How Accounting Fraud Actually Works.

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This video does not provide investment or economic advice and is not professional advice (legal, accounting, tax). The owner of this content is not an investment advisor. Discussion of any securities, trading, or markets is incidental and solely for entertainment purposes. Nothing herein shall constitute a recommendation, investment advice, or an opinion on suitability. The information in this video is provided as of the date of its initial release. The owner of this video expressly disclaims all representations or warranties of accuracy. The owner of this video claims all intellectual property rights, including copyrights, of and related to, this video.

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[NullDarkstar]

Thanks for tutorial, will use tomorrrow.

[kndquwp]

This man is gonna have every entrepreneur alive out to unalive him 😂

[haleym]

This is impressive. Now, take a peek inside the tax evading, financial entanglement that is the wonderful world of Goodwill

[isyrzy]

I'm not sure what's more impressive: the amount of money they stole, or the fact that they were able to keep it a secret for so long.

[coveredinthorns]

FYI the depreciation on financial statements is different than depreciation on your taxes. Tax depreciation uses accelerated depreciation so you can expense stuff sooner. So I don't know the details of this case, but your tax depreciation can be correct while your financial depreciation doesn't follow the Generally accepted accounting principals. Or vice versa.

[karltondennis]

Thank you for having me on Jake! Amazing video.

[Dividendology]

Ive been needing the step by step tutorial. Thanks

[Lucas.c]

I missed videos like this. Good job Jake.

[thejurydoctor]

Don’t forget to apply Benford’s law when using numbers for nefarious purposes because the IRS uses it to check and see if your numbers are legit or not

[phillipkleopas]

Instead of increasing the depreciation period, just have a resale value at the end of 8 years.

That reduces the depreciation amount as per accounting practice.

Example, instead of depreciating 300k over 8 years, you can depreciate 250k over 8 years if you can prove that the truck can resale for 50k at the end of 8 years.

[sanele]

Thank you Jake, I really missed those How to tutorials 🙏🏽🙏🏽

[ianshaver]

What I took from this is that you need to diversify your portfolio, so that you don’t go all in on a fraudulent company.

[BigWill]

Karlton Dennis is one true knowledgeable gem!!

[Lonewolf-xtml]

That awkward moment when Jake makes a video about the very company you work for.

[christophgouws]

Actually, a company can decide over how many years an asset gets depreciated. There's a difference between depreciation for tax purposes and depreciation for accounting purposes. Not all companies are the same and not all assets have the same useful lives in each company, that's logical.

[gentlepath]

Finally the tutorials I've been waiting for!

[jhsrt]

Jake did the intro then disappeared at 7:00 like we wouldn't notice🤣🤣🤣I thought Schultz was the comedian

[chans]

You're wrong. CEO in the background - We are trash tech company not a trash company 😂

[purebloodstevetungate]

One thing you've left off is the tax reform concerning write off's for inventory in certain industries namely aviation and military defense contractors.

[swolbrohamlincoln]

I work for WM, all i know when the company makes $$ and customers are happy. I get a raise. This year alone here in San Diego, we went from 25 to 28. Thats just the regular driver pay. We still got more to come from union 👍🏽