To give you an idea of ethically challenged Groupon is:
In the recent SEC statement mess Groupon attempted to pull a fast one by subtracting employee stock compensation. in the USA we have the accounting standards board which governs the accounting rules that accountants follow.
In fact you cannot get a state accountant license without committing to those rules and standards. Guess what one of those standards is never using a basis to subtract employee stock compensation from costs.
Which begs the question where did they get an accountant to sign off on that given that if it went through he or she would be subject to losing their state accountant license?
There is more here that we are not hearing..
I feel bad for Lightbank having such a bad shadow cast on their Startup incubator work by some of the founders.
In the recent SEC statement mess Groupon attempted to pull a fast one by subtracting employee stock compensation. in the USA we have the accounting standards board which governs the accounting rules that accountants follow.
In fact you cannot get a state accountant license without committing to those rules and standards. Guess what one of those standards is never using a basis to subtract employee stock compensation from costs.
Which begs the question where did they get an accountant to sign off on that given that if it went through he or she would be subject to losing their state accountant license?
There is more here that we are not hearing..
I feel bad for Lightbank having such a bad shadow cast on their Startup incubator work by some of the founders.