Please read our disclosure at the end of this entry. All figures in CAD unless noted otherwise.
This is the first in a series of entries on CGI Group, Inc. (NYSE:GIB) in which we will explore CGI's financial disclosures, prospects for growth, and valuation. We are short CGI's stock.
In this entry, we introduce CGI's Logica acquisition and explain a set of accounting techniques that the SEC has referred to as "cookie jar" accounting.
We also suggest investors read a recent article about CGI's accounting written by Bethany McLean and published by Vanity Fair. In the article, McLean compares CGI's accounting with techniques that were used at Tyco International Ltd. before Tyco was investigated by the SEC. McLean...
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|