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Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement
in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers,
and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business.
In short, don't blame the accountants if the company files for bankruptcy protection.
You¿d reckon that a going-concern
statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically
bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know
more than the bean counters.
During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.
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Sunday, May 11, 2008
Credit Report Checking Just Became Simpler After the Launch of a New Credit Report Service
Comtex
MELBOURNE, Australia, May 11, 2008 /PRNewswire via COMTEX News Network/ ----Credit report checking has become much simpler for consumers following the launch of checkmyfile's credit report analysis service.
For the first time, consumers can get their credit report from both of Australia's main credit reference agencies from one convenient online source. Previously, they have had to deal with both Dun & Bradstreet and Veda Advantage and then wait for different format credit reports to be sent.
checkmyfile's new credit report service makes life simple for consumers by reducing the number of organisations to be dealt with, presenting reports from both agencies in a single format and providing expert analysis of each report.
Barry Stamp from checkmyfile says: "Our new credit report service saves consumers time. No longer do they have to provide the same information to two organisations to see their credit report. We also take the hassle out of comparing credit reports because of our standard format."
checkmyfile also makes finding credit much simpler too. Uniquely, it matches consumers to lenders using the information contained in their credit report to find them the cheapest lenders most likely to say yes, cutting the chance of rejection.
"As an independent company, we provide consumers with unbiased and expert advice on how to use all the personal information held about them for their own benefit. With credit getting harder to find, this is invaluable," adds Stamp.
checkmyfile was the first company to make credit reports available online in the UK and the first company in the world to lift the lid on credit scoring. In the UK checkmyfile has led the online consumer information market since its launch in 2000 and has over 1.5 million customers. It has provided online credit reports for twice as long as any of its competitors.
Melbourne-based Anthea Wynn is Country Director of checkmyfile. Anthea implemented the first scorecards at Barclaycard, worked with Fair Isaac in the UK and US, and was previously CEO of Scorelink. Barry Stamp was previously DGM of Experian UK and previously headed up consumer and trade lending operations at Bass, National Mortgage Bank and US insurers Lincoln National. Co-founder Peter Kent, previously a Divisional Director of National Home Loans Corporation, was a key player in the team behind internet-based credit card Egg.
For further information contact richard.goedegebuur@checkmyfile.com.au or barry.stamp@checkmyfile.com.au Tel +61(0)3-9811-4785 or visit http://www.checkmyfile.com.au
SOURCE checkmyfile
Copyright (C) 2008 PR Newswire. All rights reserved
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