Advertisement

Voice: Garcia's letter full of accounting errors

December 07, 2001

John Garcia's letter published about Imperial Irrigation District layoffs on Nov. 29 in the Imperial Valley Press has a number of accounting errors.

There is no term "gross net income" according to generally accepted accounting principles. Gross income is at the top of an income statement and net income is at the bottom of the statement. There is a big difference between the two.

The third paragraph has an error. Farmers are not allowed to hire illegal aliens. A farmer's payroll department is required to have a filled-out Department of Justice Form I-9 (employment eligibility verification form) on file for every employee.

The last paragraph has another error. Mr. Garcia's sentence reads, "Nice guys come in last and those who are crooked make the most money." Making money is illegal. It is called counterfeiting.

Advertisement

MICHAEL JERGE

Brawley

(Retired accounting/economics professor, Imperial Valley College)

Imperial Valley Press Online Articles
|
|
|