5 ms·

What experience do you have, out of curiosity? It's interesting to think that top executives consider breaking the law in their options when making decisions.

deleted 14y ago
[deleted]
snowwrestler 14y ago
Without addressing the broader question of corporate decision-making, it seems to me that Best Buy broke a contract, not the law--which is why it was civil trial, not criminal.
ghshephard 14y ago
The experience I had typically fell the categories of Revenue Recognition . Things like round-trip revenue exchanges with other companies, Shipping gear with the understanding that return would occur at the end of the quarter, and capitalizing OpEx. The thing was - these executives (CEOs, CFOs, and EVPs of sales) never used words like "Wrong" and "Right" - they just made sure their activity wasn't discoverable and would pass muster of the Auditors (Auditors, who, were hired by those very same executives and were also doing consulting work for the company in other lucrative deals.) Anything that they could get away with, they simply presumed to be the best course of action. And, you really buy into that mindset when you're with them - and don't really realize what you are involved with until you hear about your CFO being indicted for something she got caught doing.
- jaytaylor 14y ago
  How would one become one of these lucrative auditors? (hypothetically speaking, of course..)
  - loganfrederick 14y ago
    Spend your career in a Big Four accounting firm mostly. Get a MAcc and CPA.
  - johnrgrace 14y ago
    Get an accounting degree, remove your soul. Work long hours doing lots of pointless stuff without killing yourself, leaving, or being told to leave and you'll likley become a partner and become fiarly wealthy. (my wife is a CPA)
mbesto 14y ago
The executives we are all talking about here largely aren't normally part of the decision process in such a case. In fact it's more-so their responsibility to create policies and create organizations who then enforce them. So I think the comment that these executives are actively breaking the law, is slightly myopic. Where these executives do fail is not providing a vision and culture that fosters fair play, but rather bottom line results.

deleted 14y ago

[deleted]

snowwrestler 14y ago

Without addressing the broader question of corporate decision-making, it seems to me that Best Buy broke a contract, not the law--which is why it was civil trial, not criminal.

ghshephard 14y ago

The experience I had typically fell the categories of Revenue Recognition . Things like round-trip revenue exchanges with other companies, Shipping gear with the understanding that return would occur at the end of the quarter, and capitalizing OpEx. The thing was - these executives (CEOs, CFOs, and EVPs of sales) never used words like "Wrong" and "Right" - they just made sure their activity wasn't discoverable and would pass muster of the Auditors (Auditors, who, were hired by those very same executives and were also doing consulting work for the company in other lucrative deals.) Anything that they could get away with, they simply presumed to be the best course of action. And, you really buy into that mindset when you're with them - and don't really realize what you are involved with until you hear about your CFO being indicted for something she got caught doing.

jaytaylor 14y ago
How would one become one of these lucrative auditors? (hypothetically speaking, of course..)
- loganfrederick 14y ago
  Spend your career in a Big Four accounting firm mostly. Get a MAcc and CPA.
- johnrgrace 14y ago
  Get an accounting degree, remove your soul. Work long hours doing lots of pointless stuff without killing yourself, leaving, or being told to leave and you'll likley become a partner and become fiarly wealthy. (my wife is a CPA)

mbesto 14y ago

The executives we are all talking about here largely aren't normally part of the decision process in such a case. In fact it's more-so their responsibility to create policies and create organizations who then enforce them. So I think the comment that these executives are actively breaking the law, is slightly myopic. Where these executives do fail is not providing a vision and culture that fosters fair play, but rather bottom line results.