(Got this as a WhatsApp Forward)
Ricoh reported turnover of Rs.1637 Cr in FY15
New Mgmt says loss for FY2016 is Rs.1120 Cr
This is extent to which accounts can be manipulated
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One reply on “Oh Ricoh !”
Oh-Ricoh for shareholders, no-reco(nciliation) for accountants, & no-reco(urse) for lawyers… Until people go to jail in highly publicised cases & lose their homes in recovery proceedings, this behaviour pattern may not change