depends on how the school itself does it. example: political science is a BA at UF and UM but a BA and BS at FSU lol. there isnt anything scientific about Pol Sci. the only thing I could think of w UF J school is that its part of the J school and not LAS? I know UM comm grad degrees are both MA and MS depending on the track.UF’s journalism degree is a Bachelor of Science degree and not Bachelor of Arts? What exactly is the scientific aspect of journalism?
I appreciate this but as someone who has a BA in Poli Sci, there is nothing scientific about that degree.depends on how the school itself does it. example: political science is a BA at UF and UM but a BA and BS at FSU lol. there isnt anything scientific about Pol Sci. the only thing I could think of w UF J school is that its part of the J school and not LAS? I know UM comm grad degrees are both MA and MS depending on the track.
lol quite the oppositeI appreciate this but as someone who has a BA in Poli Sci, there is nothing scientific about that degree.
ruiz taking a pounding on financial reporting
LifeWallet said at the end of March that it wouldn’t be able to file its annual report for 2022 on time. Last week, it indicated that it had discovered accounting errors, including “material weaknesses in internal controls,” that rendered two financial filings from last year unreliable. Monday, the company said that it had renegotiated two debts, pushing its repayment dates back by a year
Many of us were very skeptical of his business from the get go. Speculative evaluation of insurance claims worth drove is billionaire status, not very firm.Slowly but surely I'm starting to sour on this guy....
Elaborate!lol quite the opposite
ruiz taking a pounding on financial reporting
LifeWallet said at the end of March that it wouldn’t be able to file its annual report for 2022 on time. Last week, it indicated that it had discovered accounting errors, including “material weaknesses in internal controls,” that rendered two financial filings from last year unreliable. Monday, the company said that it had renegotiated two debts, pushing its repayment dates back by a year
Yep, and the total amount of net worth is much less than the one based on speculative claims worth.Which was my fear.
Please read. His net worth as a billionaire is based on the speculative valuation of insurance claims he owns.He’s the richest man in FL due to inventing or patenting something, not his law firm. IIRC.
ruiz taking a pounding on financial reporting
LifeWallet said at the end of March that it wouldn’t be able to file its annual report for 2022 on time. Last week, it indicated that it had discovered accounting errors, including “material weaknesses in internal controls,” that rendered two financial filings from last year unreliable. Monday, the company said that it had renegotiated two debts, pushing its repayment dates back by a year
He’s the richest man in FL due to inventing or patenting something, not his law firm. IIRC.
Yep. Now his net worth from his legal career, could allow him to continue NilLooks like a duck, sounds like a duck, walks like a duck. Guess what ....it's a duck.
ruiz taking a pounding on financial reporting
LifeWallet said at the end of March that it wouldn’t be able to file its annual report for 2022 on time. Last week, it indicated that it had discovered accounting errors, including “material weaknesses in internal controls,” that rendered two financial filings from last year unreliable. Monday, the company said that it had renegotiated two debts, pushing its repayment dates back by a year
Understood, but when you have, what was it??? $9 Billion valuation and you go public, the stock tanks immediately and then it’s reported that the profits where closer to what, was it $21 million in that Miami NewTimes article?Very common in companies that go public and are filing for the first time or even the first few times. I consult on SOX and ICFR implementation. Accounting estimates and GAAP compliance aren't easy transitions and often requires external help or restructuring and bringing in staff that are familiar and have extensive experience in SEC reporting. External auditors are also now looking at their footnotes and disclosures and language used.
Oftentimes, GAAP isn't reality and not what you use to make your own internal assessment and managerial decisions. It's just for consistency across the industry for investor comparison.
Not saying he doesn't have some trouble on the horizon but litigation takes time - very common in recovery entities to push out repayment terms and negotiate - but the ICFR and footnote things happen to every newly public company out there - mostly just isn't in the spotlight.
UF’s journalism degree is a Bachelor of Science degree and not Bachelor of Arts? What exactly is the scientific aspect of journalism?
Understood, but when you have, what was it??? $9 Billion valuation and you go public, the stock tanks immediately and then it’s reported that the profits where closer to what, was it $21 million in that Miami NewTimes article?
Does it matter if the books are off with such a large deficit or it’s a common occurrence if the discrepancy in the numbers is so far off?
I am trying to learn here so as I don’t know how this works but just using common sense. Let’s say, as an example, I reported having $50.35 in my pocket but instead I had $46.50. Then I would be like, ok, that might fall in the +/- $5 error scale.
What seems to be happening here though is that $50.35 was reported and what’s actually in the pockets is $5.35.
I am not a finance guy. @SpikeUM - what says you, lol??