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Long Standing Errors being Fixed by Public Companies

Long standing errors in the XBRL-based financial reports of public companies are being corrected.  Here is a sample of companies where a long standing error has existed but is ultimately corrected: 

Also, many filers have corrected their 10-Q filings but issues persist within the 10-K.  Typically these errors relate to conflicting information within a disclosure and within the primary financial statements.  Here are samples of filers that have issues in their 10-K, but their 10-Q is correct:

And just to round this out and to show that it is very possible to get 100% of the information within 100% of all filings correct, here are some examples of public companies that achieve this result.  I am showing income statement examples because the income statement is where most errors tend to exist.  Here are public companies that have no inconsistencies in their income statements (i.e. this is what all filings SHOULD look like):

So, it is possible to get 100% of all filings 100% correct.  There is plenty of evidence of that.

Posted on Friday, June 3, 2016 at 06:55AM by Registered CommenterCharlie in | CommentsPost a Comment

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