I own some stock in a small Telephone Company in the Midwest (inherited from my parents). Yesterday I received a copy of an Accountant's Report sent to the Board of Directors of the company.
The third paragraph reads as follows:
"Management has elected to omit substantially all of the disclosures and the statements of cash flow required by accounting principles generally accepted in the United States of America. If the omitted disclosures and statements were included in the financial statements, they might influence the user's conclusions about the Company's financial position, results of operations and cash flows. Accordingly, these financial statements are not designed for those who are not informed about such matters".
What the hell does that mean? I think I'm insulted.
4 comments:
I'm going to send this to the CFO of one of my clients. If nothing else, he'll laugh.
According to the CFO, you company didn't get a true audit (which it is apparently allowed to do) which is meant to be relied on.
Whenever you've got sentences using double negatives, you know you've got a nasty piece of English.
I think it means "Sell".
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