Tag Archives: restatements

How should AmTrust have accounted for the sales of its extended warranty plans to avoid restating three years of financial statements?

AmTrust Financial Services, Inc., (NASDAQ: AFSI) is a multinational property and casualty insurance company headquartered in New York.  In 2017, the company had to restate three years of financial statements due to several accounting errors, the key one being how it accounted for extended warranties. AmTrust provides extended-service plans (ESP) for automobiles and other consumer […]

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