By Stacy Herbert: Tesco got caught doing what every government and nearly every individual does to delude themselves that all is getting better: “there was an “accelerated recognition of commercial income and delayed accrual of costs.” If wishes were knishes, we’d all have fat profits at no cost at all.
Analysts continue to express shock over the latest problems at Tesco.
Crawford Spence, a professor of accounting at Warwick Business School, reckons Tesco’s management succumbed to temptation to play around with its numbers to cover up the full impact of falling sales.
Crawford Spence, a professor of accounting at Warwick Business School, reckons Tesco’s management succumbed to temptation to play around with its numbers to cover up the full impact of falling sales.