A publicly traded company

Financial statements of a trading company

Term Definition
Income Statement Often referred to as a Statement of Profit and Loss, or P&L, this financial report shows the revenues and expense generated and incurred by a company over a specified period of time. It shows the net gain or loss from the company's equity position during the stated accounting period.
Balance Sheet This report presents a snapshot of the company as of a single date, most often the last day of a quarter or year. It shows the accounting value of all of the company's assets, liabilities and shareholder's equity as of that date.
Cash Flow Statement This report presents an analysis of all activities during the accounting period that affected cash, impacted primarily by operations, financing and investments.
Financial Ratios These ratios are calculated from the reported figures in the financial statements. They are used to analyze the relative financial health of the company as compared to other similar companies. They can be compared over time within the same company to spot trends and evaluate risks, especially when deviating from companies in the same or similar risk categories.
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Then, on July 28, 2010, the Company announced


That effective July 22, 2010, Deloitte and Touche, LLP ("Deloitte") had resigned as the Company's independent public accountant.
Defendants revealed that "Deloitte advised the Company that certain information has come to Deloitte's attention, that if further investigated may materially impact the reliability of either its previously issued audit report or the underlying consolidated financial statements for the year ended December 31, 2009 included in the Company's 2009 Form 10-K."
Finally, on August 17, 2010, American Apparel shocked investors when it announced that despite quarterly net sales of $132 million to $143 million, it would report a net loss of $5 million to $7 million for the quarter

Duke, El Paso asked for trading records

by enron-

Duke Energy Corp and El Paso Corp received subpoenas for trading records as authorities widened probes of sham transactions in natural gas and power markets. Duke shares fell 11 percent, their biggest drop in almost 15 years.The requests for documents came from the US Attorney's Office , as part of a grand jury investigation, and from the Commodity Futures Trading Commission, Duke said in a statement. Prosecutors have previously sought trading records from Dynegy Inc, Reliant Energy Inc and CMS Energy Corp.Duke, like some rivals, has admitted engaging in so-called 'round-trip' trades. It included about US$1

Stein Ole Larsen - Terra Gruppen AS Feb 2012

by gnostic2012

By Stephen Treloar
Editor: Christian Wienberg
Feb 18, 2012
Terra to Close Equity Trading Desk, CEO Resigns After FSA Report
Terra Gruppen AS Chief Executive Officer Stein Ole Larsen resigned yesterday and Terra will cut its equity trading desk after the Norwegian Financial Supervisory Authority criticized the management of the unit.
The equity trading desk and associated equity analysis operations will be closed after a preliminary report from the FSA identified “serious deficiencies” in the management of Terra’s stockbroking unit Terra Securities AS, the Oslo-based company said in a statement on its website yesterday

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Kris Van Broekhoven, global head of commodity trade finance at Citi, said large trading houses were effectively doing part of the job previously done by banks. “Some of the large trading houses are bridging the time between when financing is required ..

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