After four days of testimony and two trips to the witness stand, former Trump Organization controller Jeff McConney broke down in tears on Tuesday, telling the court the toll of the numerous investigations and accusations of misconduct drove him to leave the company he loved working for after 35 yea...
“I feel proud of what I did. I think everything was justified. Numbers don’t represent fully what these assets are worth,” McConney said. “I got to do a lot of things normally an accountant wouldn’t be able to do. I’m very proud of the work I did for 35 years.”
eh... maybe there's a reason most accountants aren't allowed to cook the books? maybe? Cry me a river, build a bridge and get over it.
This. Any decent accountant or financial manager would know this. The fact that he made this statement at best means he's incompetent at his job and at worst is an indication of crocodile tears.
When I saw the headline, I thought it meant that he was remorseful, but of course he just feels sorry for himself because the law ruined his good thing.
Look, sometimes we have an asset with a book value of $10 mil, which means we can brag about it on social media, just like my uncle used to do - great man, very smart and perfect genes from Levis Strauss. Ok, very creased from ironing but this was before my superior roulette steak company. Perhaps market value is, you know, what they are saying is, ok, approximately 2 bananas when the property tax appraiser comes around. Therefore, the numbers don't represent what the assets are worth. Technically he made a correct statement. Believe me, the best kind of correct. Just like McKinsey and Ivy League. That's what people are saying. Anyway, everyone can have a gaap in judgment. Sometimes our brain is an impaired asset. But I have a special excretory operation and need your support - please donate now and you will be rewarded with an honorary one-sheet ply of branded water closet paper.
At one point while reviewing his own handwritten notes, McConney acknowledged his memory was “incorrect” about a specific disclosure on Trump’s statement. Seeing the handwritten edits also published in the final statement version, he acknowledged he must have primarily written the disclosure about asset valuations that deviated from generally accepted accounting principles.