Is the House of Mouse engaging in fraud? (1 Viewer)

[Tom Servo]

Disney whistleblower told SEC Disney is inflating income.

Kuba’s filing alleges that flaws in the accounting software made the manipulation difficult to trace, though the consequences could be significant. In just one financial year, 2008-09, Disney’s annual revenue could have been overstated by as much as $6 billion, Kuba’s whistleblower filing alleges. The parks-and-resorts business segment reported total revenue of $10.6 billion in 2009, according to its annual report filed with the SEC.

The most recent tip alleges some Disney employees reclassified guest revenue from high-sales-tax items such as hotel rooms to lower-taxed items such as food and beverages with the purpose of significantly reducing sales tax liabilities in Florida, California and Hawaii. MarketWatch has reviewed the three filings and supporting documentation that was sent to the SEC.

 

[simsarge]

Disney whistleblower told SEC Disney is inflating income.

That's what happens when you have this guy as your accountant 

 

[Tom Servo]

That's what happens when you have this guy as your accountant 

It would explain a lot.

 

[apalmer]

I also have it on good authority that mice can't talk!

 

[Leroy Hoard]

I also have it on good authority that mice can't talk!

And very few wear yellow shoes and white gloves.

 

[Osaurus]

I knew it!!!!