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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: Ruyi who wrote (8436)2/2/1999 2:34:00 PM
From: Denise D  Read Replies (2) of 37507
 
Doug,

I prepare the financial statements for a smaller, private company, with less complicated transactions (I'm positive) and it usually takes me three to four weeks before the accountant even looks at it to make year-end adjustments. The accountant spends 3-4 days here with me to finalize the statements before it goes to management to approve.

BII released within 30 days last time

I am not sure if you are referring to 1997 4Q results when you say within 30 days, but I don't see how they could release it that fast.

I also used to work for the Audit Department of one of the Big 4 accounting firms, and I know the Audit process also takes approx. 2 weeks, depending on the nature of the books. Also, as Dec 31 is a mandatory year-end for public companies, accounting firms find themselves very, very overworked at this time of year.

This is just my argument remember, I haven't forgotten you are a forensic accountant and have a different opinion based on YOUR experience.

Denise.
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