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If they overstated revenue, where did they overstate assets? The beauty of

double entry accounting is that for every credit to revenue, you need a debit to another account, presumably increasing an asset or decreasing a liability. If revenues are overstated then some combination of assets and liabilities are overstated and understated, respectively. It makes it more difficult to pull off such a thing. A good Market Watch reporter would have explained the other half of the equation. What else is misstated aside from revenue?

Should be a fun audit year at Disney!

[Post edited by BG Hokie at 08/20/2019 09:21AM]

(In response to this post by Burke Hokie)

Posted: 08/20/2019 at 09:17AM

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