On June 7, 2018, MiMedx Group, Inc. [MDXG], a biopharmaceutical company, announced that the Company is going to restate previously filed financial statements for years 2012 through 2016, and the first three quarters of 2017. A financial restatement of this … Continue reading
Author Archives: Derryck Coleman
What You Should Know About General Electric’s Revenue Recognition Announcement
Note: This post has been updated to include the full, unabridged FactSet article made available on November 12, 2018. General Electric Co [GE] released an update on April 13, which among other things, clarified issues related to the adoption of … Continue reading
ASC 606 Adoption Progress – Q4 Update
We’re beginning to see large U.S. public companies with December year ends completing implementation of the new revenue recognition standard. At the time of our Q2 progress update, many companies were still behind, despite the December deadline for companies who … Continue reading
New Tax Cut Law Is Complicating Fourth Quarter Earnings Data
The Tax Cut & Jobs Act law (TCJA) passed in a rush late last year is complicating how companies release their fourth quarter earnings data. The sweeping changes will significantly affect most large companies, and many of them took different … Continue reading
What are Companies Really Seeing, Revenue Growth or Accounting Adjustments?
With the new ASC 606 rule now in effect and earnings season in full swing, we are beginning to see how different companies changed the way they account for revenue. For some, it will improve fiscal 2018 financial results. If … Continue reading
Nearly 65% of Affected Public Companies Did Not Report Cybersecurity Breaches to the SEC
Over 90% of the Russell 3000 companies see cybersecurity as a significant risk and provide the cyber risk disclosure in the Risk Factors section. This should come as no surprise – the number of cyber breaches for companies registered with … Continue reading
Ranking the Equifax Data Breach (Updated)
Equifax [EFX] is the latest casualty of a massive data breach. Equifax recently disclosed that a cybersecurity incident may have affected 145.5 million U.S. consumers. According to Equifax, the incident occurred between May and July 2017. The breached information included names, Social Security numbers, … Continue reading