Bloomberg - Training The Street - Financial Training, Finance Training, Investment Banking Training, Financial Modeling Training

19 Oct

Bloomberg Tax: Robert Rostan in Uber, Lyft Revenue Accounting Threatened by Gig Worker Proposal

May 11, 2023
By Training The Street

Uber, Lyft Revenue Accounting Threatened by Gig Worker Proposal Uber Technologies Inc. has warned in its financial statements for two years that a potential reclassification of its drivers from independent contractors to employees would alter a key calculation it makes when it tallies the top line in its income statement. A Biden...

25 Jan

Bloomberg

Bloomberg Tax: Robert Rostan in Size of MicroStrategy’s Bitcoin Bet Set Off SEC Accounting Alarm

May 11, 2023
By Training The Street

Size of MicroStrategy’s Bitcoin Bet Set Off SEC Accounting Alarm Scale of Bitcoin holdings made SEC zero in on company Non-GAAP measures can’t strip out key financial drivers A growing number of companies invest in Bitcoin but none to the extent of MicroStrategy Inc., which in 2021 announced that buying and...

30 Nov

Bloomberg

Bloomberg: Wayne Stallings in SPACs Churn Out Restatements, Again, to Correct Accounting

May 11, 2023
By Training The Street

Nov. 23, 2021, 1:45 AM; Updated: Nov. 23, 2021, 7:26 AM 160-plus SPACs announce accounting errors Regulatory scrutiny means more are likely Scores of the blank-check companies that set the IPO market ablaze in 2020 are once again stumbling over accounting errors. More than 160 SPACs have issued warnings in the last week...

21 Apr

Bloomberg

Bloomberg: Scott Rostan in K.C. Southern Morphs From Railroad Also-Ran to $30 Billion Prize

May 11, 2023
By Training The Street

K.C. Southern Morphs From Railroad Also-Ran to $30 Billion Prize By Thomas Black April 21, 2021 In less than a year, Kansas City Southern has transformed from an industry wallflower to the belle of the ball, getting courted by Canada’s two biggest railroads. The U.S. carrier has been a source of takeover speculation for decades....

01 Feb

Bloomberg

Bloomberg Tax: Robert Rostan in GameStop Takes Everyone on a Wild Ride, Except Its Accountants

May 11, 2023
By Training The Street

https://news.bloombergtax.com/financial-accounting/gamestop-takes-everyone-on-a-wild-ride-except-its-accountants It’s taken over social media, gotten airtime at a White House press conference, and pitted hedge funds against an army of online traders out to bruise them. But there’s one place the saga of GameStop Corp.’s stock price roller coaster ride won’t play out: on GameStop’s financial statements. The fundamentals of...

16 Oct

Bloomberg

Bloomberg Tax: Robert Rostan in Unusual Accounting Expenses ‘Not So Unusual’ as Virus Wears On

May 11, 2023
By Training The Street

The main message: If a company can quantify the effects of the pandemic in a reasonable way and make the case that it’s dealing with an unusual situation, it’s OK. But don’t go too far afield, said Robert Rostan, CFO of Training The Street, an accounting education firm.

21 May

News, Bloomberg

Bloomberg: Robert Rostan in Hertz Runs Into Cash Crunch After Years of Management Tumult

May 11, 2023
By Training The Street

https://www.bloomberg.com/news/articles/2020-05-21/hertz-runs-into-cash-crunch-after-years-of-management-tumult?sref=Oe6GluQB By Esha Dey May 21, 2020, 5:00 AM EDT Less than three months ago, Hertz Global Holdings Inc. executives were touting a solid fourth-quarter performance and saying they’re entering 2020 in a strong position. Today, they’re managing a crisis that has the company on the brink of bankruptcy, saddled with almost $21 billion of debt and...

09 Nov

News, Bloomberg

Bloomberg: Rahul Bhatia in Public Market Rituals Spell Pain for Uber and Beyond Meat Stocks

May 11, 2023
By Training The Street

https://www.bloomberg.com/news/articles/2019-11-09/public-market-rituals-spell-pain-for-uber-and-beyond-meat-stocks By Drew Singer and Esha Dey November 9, 2019, 7:00 AM EST For newly a public company, two rites of passage loom: its first few earnings reports, and the expiration of its IPO lockup. Twice this month, those events conspired to unleash double-doses of pain for investors. Uber Technologies Inc. plunged 13% over...

04 Nov

Bloomberg

NPR Marketplace: Robert Rostan in Under Armour investigation focuses on “revenue recognition.” What’s that?

May 11, 2023
By Training The Street

By Marielle Segarra The sportswear company Under Armour on Monday confirmed federal officials have been looking into its accounting practices for more than two years. Under Armour says it hasn’t done anything wrong. The Wall Street Journal, which broke the news, said the probe includes both criminal and civil investigations and that...

21 Jun

News, Bloomberg

Bloomberg: “Fewer MBAs Want to Work For Hedge Funds”

May 11, 2023
By Training The Street

By Julie Verhage and Sonali Basak As business students pack up their belongings after graduation, fewer are listing hedge funds as a top destination, while private equity and startups are becoming more attractive. According to a survey from Training the Street, a firm that offers technical training to Wall Street firms and business schools, startups and private equity...