Red Hat restatement triggers legal attacks

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Only Partially Right

Unfortunately the owners of companies oftentimes aren't aware of the intricacies of all this accounting crap. And they are told of this stuff by advisors only after the advisors have realized the mistakes.

Things in big companies have become so complicated I don't think anyone really understands it completely. Gone are the days where you can say I sold this much, had these expenses, therefore my profit is this. Now much of it is so convoluted you can't make heads or tails of it.

Just in my own simple company much of the accounting is way over my head and I can't understand it even when the accountant explains it to me!

I'd bet the CEO's at Redhat are much the same. They spend their time focused on what they know - computer code and computer systems, and how to keep the business growing. Not on accounting crap. Not everything is a conspiracy designed to take other people's money.

Granted, cases like Enron, and Tyco are exceptions, perhaps this is as well, but I'd bet not.

Posted by: vxpress   Posted on: 07/15/04 You are currently: a Guest | Members login | Terms of Use

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