FASB Revenue Standard Has Little Impact on Google’s Finances
After adopting the Financial Accounting Standards Board’s (“FASB”) revenue recognition standard one year before the 2018 effective date, Google is acknowledging that the standard has had little effect on its financial results. Google says that its recorded revenue for 2016 was $15 million less than it would have been if determined under the revenue rules prior to Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. Speaking on the matter at the June 27 Financial Executives International Conference in Philadelphia, Google’s Josh Paul said the revenue decrease seemed like a rounding error. Google’s director of technical accounting remarked that. Read More.
Universities Impacted by Gambling SEO Scheme
Over 70 websites around the globe have been linked to a search engine optimization (“SEO”) gambling scheme. The scheme, discovered by researchers at eTraffic, mostly impacted university sites that were linked in course descriptions to keywords such as “real slot machines.” eTraffic said the SEO scheme was to help push gambling sites up Google’s search rankings and generate more money for online gambling businesses. It’s unknown how the links appeared, but hacking due to the vulnerabilities of blogging plugins is possible. More on the SEO gambling scheme is available on The Verge.
Google Brings Internet to Public Housing Project
Reaffirming its commitment to provide low-income families with Internet access, Google has teamed with the Housing Authority of Kansas City to equip a 100-unit public housing project with free Google Fiber. The partnership is part of Google’s goal to provide Internet service to 1,300 households in the Kansas City area. Over time, Google hopes to expand into other subsidized housing markets. For more on Google’s efforts , check out the Nonprofit Quarterly Web site.