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Non-Tech : Bill Wexler's Trading Cabana
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To: Kevin Podsiadlik who wrote (5310)4/14/2009 4:22:49 PM
From: ggersh1 Recommendation  Read Replies (1) of 6370
 
"When Goldman became a bank holding company last fall amid the mushrooming credit crisis, it switched its reporting cycle so its fiscal quarters were in line with calendar quarters beginning Jan. 1. To adjust its reporting schedule, Goldman began fiscal 2009 on Jan. 1 instead of Dec. 1 of last year. The bank said for the month of December, which fell between the change in reporting cycles, it lost $1 billion, or $2.15 per share.

Shifting the start of its fiscal year certainly helped the bank's overall results, said Denise Valentine, senior analyst at Aite Group, a Boston-based research firm."

Based on this.
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