Tag

Accounting Errors

All articles tagged with #accounting errors

finance1 year ago•4 min saved

Symbotic Stock Plummets Amid Accounting Errors and Delayed Filing

Symbotic's stock plummeted nearly 36% due to the discovery of accounting errors affecting its fiscal 2024 results, prompting a restatement and a delay in filing its annual report. The errors, related to revenue recognition, will lower key financial metrics by $30-40 million. Additionally, the company reduced its Q1 2025 guidance, significantly cutting its adjusted EBITDA forecast by over 50%. Investors are advised to wait for the official 10-K filing before making decisions, as the stock may remain volatile.

via The Motley Fool|

#accounting-errors #ai-technology #finance

sports1 year ago•1 min saved

49ers Lose Draft Picks Due to Payroll Errors

The San Francisco 49ers have been penalized by the NFL for administrative payroll accounting errors, resulting in the forfeiture of a fifth-round draft pick in 2025 and a lower pick in the fourth round this year. The league's review found a misreporting of player compensation but determined that the team would have remained under the salary cap regardless, with no intent to circumvent it. The 49ers accepted responsibility and the imposed discipline, stating that there was no intent to mislead or gain a competitive advantage. This is not the first time the team has been investigated for salary cap violations, with previous penalties in 2001 and 2002.

via New York Post |

#49ers #accounting-errors #draft-pick