TESCO - Basic question
OK so Tesco screwed up its accounts by adding in profits that might accrue but had not yet been received.
But I thought businesses paid accountants to check the books and auditors to go through the figures? So would this apply to Tescos even though it is a huge company? dl |
Worth buying some shares?
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Very difficult times sat here working in H/O, :( Not going to comment.
I've been here 25 years and never known anything like what is going on... |
Carousel fraud?
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Originally Posted by dpb
(Post 11522258)
Worth buying some shares?
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Hate them..worst customer service of any of the big three. :mad:
They deserve everything they get. |
Originally Posted by alcazar
(Post 11522373)
Hate them..worst customer service of any of the big three. :mad:
They deserve everything they get. |
Originally Posted by fat-thomas
(Post 11522435)
^ as he says, they take advantage of suppliers and staff with low pay and poor conditions,so fcuk em its about time the got some comeuppance.
They tried to build a store in the next village to me - it was totally unwanted and un-needed by the locals and in a location where it would've caused problems, but Tesco persisted. Borough Council passed the plans but the community, along with the parish council kicked up a huge stink. Many petitions later and the intervention of the Secretary of State Tesco had to back down. No one would have used the store and they knew it was fruitless to carry on. I have never, and will never, set foot in a Tesco store. They are getting their just desserts now. |
It does happen with some larger companies, when they expect profits to be higher but then something does not quite pan out but they fully expected it to swing back. I think the issue here is perhaps they had some knowledge a while ago that's what was going on.
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quality just desserts.
they take ths p1ss out of customers on a daily basis a few example's beef packed in plastic bag on shelf £11 a kilo on the meat counter 10metres away £8 a kilo penguins pack of 9 £1 when on special offer (£1.75 the week before) pack of 27 next to them £4.29 dishwasher tabs 100 on special for £20. packs of 40 for £6 right next to them i mean how bloody stupid do they think people are :cuckoo: |
Originally Posted by madscoob
(Post 11522580)
quality just desserts.
they take ths p1ss out of customers on a daily basis a few example's beef packed in plastic bag on shelf £11 a kilo on the meat counter 10metres away £8 a kilo penguins pack of 9 £1 when on special offer (£1.75 the week before) pack of 27 next to them £4.29 dishwasher tabs 100 on special for £20. packs of 40 for £6 right next to them i mean how bloody stupid do they think people are :cuckoo: I have seen it in the supermarkets people grab and don't look at anything else around the item they are grabbing. You cannot blame the supermarkets for pricing items this way if people are going to buy them. |
Originally Posted by zip106
(Post 11522454)
Not only that but they have local planners in their pockets and run rough shod over local residents views.
They tried to build a store in the next village to me - it was totally unwanted and un-needed by the locals and in a location where it would've caused problems, but Tesco persisted. Borough Council passed the plans but the community, along with the parish council kicked up a huge stink. Many petitions later and the intervention of the Secretary of State Tesco had to back down. No one would have used the store and they knew it was fruitless to carry on. I have never, and will never, set foot in a Tesco store. They are getting their just desserts now. The main build stalling point was with the pub and its demolition but Tesco managed to get around that even though it was "supposed" to be a listed building! With Co-op leaving the precinct, they managed to build a brandnew store only 1 mile up the road on a site which did house a United Reformed Church, until they demolished it.! I can only imagine there were quite a few palms greased with silver for the go ahead for these two stores to be built.. |
Surely some of those profits were taxable... So did Tesco actually pay too much tax? :wonder:
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Originally Posted by madscoob
(Post 11522580)
quality just desserts.
they take ths p1ss out of customers on a daily basis a few example's beef packed in plastic bag on shelf £11 a kilo on the meat counter 10metres away £8 a kilo penguins pack of 9 £1 when on special offer (£1.75 the week before) pack of 27 next to them £4.29 dishwasher tabs 100 on special for £20. packs of 40 for £6 right next to them i mean how bloody stupid do they think people are :cuckoo: Like, bacon, £2.79 a pack, buy three for £9... The first time I saw similar, I reported it to customer services. They said it was a mistake, and they would put it right. They didn't, (hadn't done a week later). And now you can almost always find similar. It's dishonest . Loathsome company. Hope they go bust. |
Originally Posted by PaulC72
(Post 11522619)
People are very stupid thats the problem.
I have seen it in the supermarkets people grab and don't look at anything else around the item they are grabbing. You cannot blame the supermarkets for pricing items this way if people are going to buy them. What about those with special needs? Should Tesco be allowed to cheat them like this? :mad: "People are stupid" doesn't cut any ice with me, sorry. Stupid, too busy/unable to do the maths? No reason to cheat them, is it? |
Originally Posted by alcazar
(Post 11522881)
Loathsome company. Hope they go bust. |
Any chance that someone could answer my question in OP? :) :)
I don't like Tescos - it's tacky with mostly ignorant staff and some dodgy pricing (also stores too big for me). My local Lidl has tidied itself up and super value for many products. dl |
Originally Posted by David Lock
(Post 11522966)
Any chance that someone could answer my question in OP? :) :)
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Originally Posted by David Lock
(Post 11522966)
Any chance that someone could answer my question in OP? :) :)
These were half year accounts. |
Thank you :thumb:
dl |
Originally Posted by ALi-B
(Post 11522648)
Surely some of those profits were taxable... So did Tesco actually pay too much tax? :wonder:
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Originally Posted by David Lock
(Post 11522966)
Any chance that someone could answer my question in OP? :) :)
I don't like Tescos - it's tacky with mostly ignorant staff and some dodgy pricing (also stores too big for me). My local Lidl has tidied itself up and super value for many products. dl so all auditors would be qualified accountants, not all accountants would be auditors - as you can audit you own "work" the banking crash showed that often Auditors work in a "virtuous circle" and that there is little competition between the big 4 ultimately they seem to sing to the paymasters tune Lehman,s accounts were signed off by Auditors http://www.accountingweb.co.uk/topic...lations/412927 it appears not much has changed |
All this hatred for Tescos. I shop there as it's my local and cheaper than Sainsburys (both in my village within 100yds of each other) with just as nice food. Couldn't be handier being open 7-11 7 days a week plus all the vouchers I get = free beer tokens. It's not as though the offers aren't obvious as they are brightly coloured labels and stick out a mile. I save a packet buying the stuff on offer.
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Originally Posted by ReallyReallyGoodMeat
(Post 11523116)
These are forecast i.e. future profits, no tax has yet been paid.
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I suppose it would be more serious if there were irregular share purchases by the directors
but I suspect it was not done for immediate personal gain by the directors i.e. a short term manipulation the share price - they would not be that stupid more of a cultural thing |
Originally Posted by hodgy0_2
(Post 11523172)
I suppose it would be more serious if there were irregular share purchases by the directors
but I suspect it was not done for immediate personal gain by the directors i.e. a short term manipulation the share price - they would not be that stupid more of a cultural thing dl |
Originally Posted by David Lock
(Post 11523180)
But there could be middle management guys in finance department whose salaries might be enhanced if profits higher?
dl |
Originally Posted by David Lock
(Post 11523180)
But there could be middle management guys in finance department whose salaries might be enhanced if profits higher?
dl
Originally Posted by Cpt Jack Sparrow
(Post 11523213)
Nope
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Originally Posted by David Lock
(Post 11523180)
But there could be middle management guys in finance department whose salaries might be enhanced if profits higher?
dl obviously the directors/executives will be bonused on the share price so any artificial inflation of profits by dodgy accounting and reporting of results will ultimately benefit them |
Bonuses stopped a few years ago
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