Mind the GAAP. Or how about we just scrap the GAAP?
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GAAP is an acronym that stands for Generally Accepted Accounting Principles. It is the set of rules that accountants and auditors use to maintain a responsible chain of coverage when examining a company's books to declare them to be a true and accurate representation of the company's financial health, but it has been altered over the years to be almost meaningless for the average Joe or Josie to understand.
The SEC has, after the Enron/Arthur Andersen debacle, been charged with making GAAP more stringent. Companies had been declaring profits and smaller losses then reality would dictate because they were "following the GAAP rules." Investors like you and I were left in the dark. Hopefully, that will be changing.
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After a 30 year career on radio in markets from New York to San Francisco to satellite and network, David H. Lawrence XVII decided to make a change. He hung up his headphones and retired from hosting 3 network/satellite radio shows to head to Los Angeles, to concentrate solely on acting in front of the camera.
Lili VonSchtupp* needed a fresh start. She moved to Washington DC and got her dream job. "I did affiliate relations for Online Tonight with David Lawrence. I slowly worked my way into the producer's chair by impressing David with my assets. (not those assets), my ability to make a CAT5 cable Ethernet cable, type (those of you in the chat room-shut up!) and work a phone system.
