Tuesday Jan 16 2018
BP takes a $1.7 billion write down as a result of Deepwater Horizon.
The purpose of this blog is to tie what we study in class to the real world of accounting. Here is an excellent example. BP anticipates charges and fines as a result of the oil spill. Now that it can identify them, it is taking a charge to reflect these losses.
We will report later on how this affects BP's stock price.
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