He is debating an accounting issue with a former Big-4 auditor and a current accounting professor at one of the first-rate business schools in this country...
Goodwill and other intangibles account for 36% of total assets. Any smart people with primitive accounting knowledge know that after 2001, goodwill is subject to periodic impairment assessment. If KPMG pushes for adjustment, the bottom line will be terrible!
The funny thing is that CBG still has not provided the cash flow statement.
Is that so difficult to provide CFS when one firm can easily provide a complete balance sheet and a detailed income statement with rich segment info?