AllThingsD » accounting practices http://allthingsd.com Sat, 11 Feb 2012 15:49:25 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://allthingsd.com/theme/images/logo-rss.jpg All Things Digital http://allthingsd.com/ 144 22 Accounting for the Actions of the Winklevii and Virtual Goods Are Both Difficult to Do (Video) http://allthingsd.com/20110626/accounting-for-the-actions-of-the-winklevoss-twins-and-virtual-goods-are-both-hard-to-do-video/ http://allthingsd.com/20110626/accounting-for-the-actions-of-the-winklevoss-twins-and-virtual-goods-are-both-hard-to-do-video/#comments Sun, 26 Jun 2011 14:45:14 +0000 Tricia Duryee http://allthingsd.com/?p=90982 On Friday’s Digits, AllThingsD’s Liz Gannes and I discussed two difficult subjects both having to do with Facebook: Why the Winklevoss twins won’t give up on suing the company and why it’s so difficult to account for virtual goods inside social games.

Liz kicked off the show by talking about how the twins dropped their fraud suit against Facebook in favor of a new one that accused the company over whether it  ”intentionally or inadvertently suppressed evidence.”

Specifically at issue are a number of instant messages written by a young Mark Zuckerberg, which were too explicit for Liz to mention on air.

Later, I chatted about how the laws are not yet clear on how companies should record revenue from virtual goods, leaving them to come up with their own best practices. Meanwhile, Zynga will likely become the first example as it is expected to go public any week now.

Here are the clips:


[ See post to watch video ]


[ See post to watch video ]

]]> http://allthingsd.com/20110626/accounting-for-the-actions-of-the-winklevoss-twins-and-virtual-goods-are-both-hard-to-do-video/feed/ 0 Sanjay Kumar Goes to White Castle Prison http://allthingsd.com/20080904/sanjay-kumar-goes-to-white-castle-prison/ http://allthingsd.com/20080904/sanjay-kumar-goes-to-white-castle-prison/#comments Thu, 04 Sep 2008 19:05:50 +0000 John Paczkowski http://digitaldaily.allthingsd.com/?p=4471 If I go down, you all go down. That’s the personal philosophy former CA CEO Sanjay Kumar appears to have embraced after serving a few years in prison for conspiracy, securities fraud and obstruction of justice. In a 27-page affidavit filed in court Tuesday, the disgraced Kumar claims that several current and former directors were aware of the company’s … generally unaccepted accounting practices and concealed them from government investigators. Smeared in the affidavit: board members Lewis Ranieri and former U.S. Senator Alfonse D’Amato, as well as company co-founder Russell Artzt and former CEO Charles Wang.

Kumar alleges they were all aware of the infamous “35-day month” ploy for which he and eight other former CA (CA) officials took the fall. “Wang was not only aware of the accounting improprieties, such as the 35-Day Month, he also actively participated in concealing those improper accounting practices. … Wang knew that CA’s quarters were ‘open’ for five days into the next month per his directive, and he sometimes instructed CA to keep CA’s books ‘open’ after the usual ‘five days’ to execute license agreements and recognize revenue from those agreements in the previously ended quarters.”

Damning allegations and ones Wang, D’Amato, et al., vigorously deny.
Said a spokesman for Ranieri and D’Amato: “[Kumar] from jail continues to be a stranger to the truth.”

]]> http://allthingsd.com/20080904/sanjay-kumar-goes-to-white-castle-prison/feed/ 2