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Valeant Pharmaceuticals: Aggressive Accounting Games
McNichols, Maureen; Foroughi, JaclynCase SGSB-A229-EAccounting and ControlIn February 2008, as world markets slid deeper into economic decline, J. Michael Pearson joined Valeant Pharmaceuticals, a specialty pharmaceuticals company, then based in a quiet suburb of southern California. By August 2015, the stock price peaked, valuing the company at nearly $90 billion, up from $2 billion in 2008. In that time, Valeant had made over 100 acquisitions with total revenues growing from roughly $750 million in 2008 to over $10...Starting at €8.20
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Revenue Recognition at Groupon and Uber Technologies
Gipper, Brandon; Foroughi, JaclynCase SGSB-A236-EAccounting and ControlGroupon, a daily deals platform and Uber Technologies, a ride-hailing and delivery platform, faced a common issue related to a new revenue recognition standard (and later amendments) adopted by most public companies in 2018. The amendments were designed to help companies determine whether the nature of their obligation to customers was to provide the specified goods or services to the customer directly (acting as “principal” and reporting revenue...Starting at €8.20