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I had the same feeling. Could use an accountant chiming in here. On the one hand the third quarter update clearly states 'Unaudited' above the statement of ope
by wjnc 8y ago
I had the same feeling. Could use an accountant chiming in here.
On the one hand the third quarter update clearly states 'Unaudited' above the statement of operations and balance sheet. On the other hand, they present GAAP-figures. As far as my practical knowledge of working with accountants go, they would frown quite heavily upon using 'new and improved' accounting methods for their Q3-update. Even for 'unaudited' GAAP-figures 'we' (investors) should be able to expect a continuous accounting practices from the firm. But it's good practice to read any statement of an accountant dilligently (ever read an ISAE-statement?) and read non-audited statement with even more caution.
- appleiigs 8y agoFor a public company the size of Tesla, unaudited will be the same as audited. Sometimes in the MD&A, they use adjusted figures because it tells a story differently (maybe more accurately) than un-adjusted GAAP figures.