Papa John’s International Inc. this spring discovered an accounting error that had caused years of misstated financial numbers. The pizza chain decided the mistake wasn’t serious enough to require it to reissue its financial statements.
The Securities and Exchange Commission asked why because several important numbers were off by more than 5%, a widely used rule of thumb for requiring the most serious type of restatement. The company told the SEC it uses 5% as a “first step,” but then applies its own 10% measure to decide...
3rd party finance members record the accounting in some company.
That’s an idea or suggestion of something one might hold as true. Accounting is imperative. BlockchainTechnology is a good book.
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