#accounting-error

[ follow ]
#tencent-investment #leverage-covenant #partnership-revenue #local-government-finance #section-114
fromKotaku
5 days ago

Ubisoft Didn't Get Sold: Bad Accounting, Black Flag Remake And AI

The first was a big injection of new cash, say from a sovereign wealth fund like Saudi Arabia's. The second was an outright sale of a major portion of the company, maybe to its current backstop investor Tencent. The third was much more mundane: an accounting error. After a week of speculation, the Assassin's Creed publisher confirmed that was indeed the reason for the delay.
Video games
UK politics
fromwww.theguardian.com
3 weeks ago

Birmingham city council was probably never bankrupt, says accountancy expert

Birmingham City Council was likely not bankrupt; its section 114 notice relied on unaudited, materially incorrect accounting and underestimated reserves by over £1bn.
[ Load more ]