Posts Tagged: one-time charges to income

More Job Cuts

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

Citigroup Inc is cutting 4,500 jobs worldwide, Chief Executive Vikram Pandit said on Tuesday, becoming the latest large bank to trim staff. Pandit said the cuts would be completed over “the next few quarters” and would come from a range of businesses. Questions: 1. What is the $400 million charge for? 2. How will this… Read more »