If this is your first time viewing the New site. Please logout and login again. You will only have to do this once
[LIP] GroupOn.com ... Opps, The Accountants Made A Slight Error.
What can you say? It was an honest error? If I was betting man, I'd bet that no one is prosecuted.
"Groupon shaved its revenue for the first half of this year to $688 million, from $1.5 billion, in an acknowledgment on Friday of accounting missteps with the Securities and Exchange Commission. Groupon had reported the entire deal coupon as revenue instead of subtracting the merchant's cut. Groupon says in SEC filings that revenue minus merchant fees was always the metric to consider."http://www.usatoday.com/money/companies/story/2011-09-26/groupon-IPO-in-trouble/50548532/1