Wednesday, July 12, 2006

A Picture is Worth 1000 Income Statements?

SEC Attorneys and The Focal Point, a graphics firm which can assist in legal proceedings, successfully prosecuted James Koenig of Waste Management for fraud. To reduce the financial complexities in the case, Focal Point developed numerous graphics to display accounting principles in question (to see examples, go to
http://www.thefocalpoint.com/news/recent-cases_sec.htm) through a process called Mental Mining. Estimated cost of the fraud, which occurred during the 1990s, exceeded $1 billion.

Congratulations to SEC and Focal Point on their efforts. I may refer some of my students to the Focal Point website.

2 Comments:

Blogger neilmcintyre.ca said...

That's a very cool page, thanks for drawing my attention to it!

Also, I've added a link to your blog on mine.

4:10 AM  
Blogger Dan Meyer said...

Thanks for the support. Good luck in your studies. We just had a great time in Nova Scotia last month.

10:13 PM  

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