{"id":3617,"date":"2012-03-30T22:45:28","date_gmt":"2012-03-31T03:45:28","guid":{"rendered":"http:\/\/bucktownbell.com\/?p=3617"},"modified":"2012-03-30T22:45:28","modified_gmt":"2012-03-31T03:45:28","slug":"groupon-reveals-lower-revenue-admits-internal-controls-weakness","status":"publish","type":"post","link":"http:\/\/bucktownbell.com\/?p=3617","title":{"rendered":"Groupon reveals lower revenue, admits internal controls &#8216;weakness&#8217;"},"content":{"rendered":"<blockquote><p>In its SEC filing, Groupon said it sets aside a refund reserve by applying a financial model based on refund patterns from previous deals. The problem with this approach was that refund behavior started changing in late 2011 as the company introduced higher-priced deals, which required commensurately higher refund payouts when customers requested returns. Groupon was still modeling the size of its allowance on lower-priced deals.<\/p><\/blockquote>\n<p>via <a href=\"http:\/\/www.chicagotribune.com\/business\/breaking\/chi-groupon-revises-4q-earnings-down-20120330,0,6123536.story\">Groupon reveals lower revenue, admits internal controls &#8216;weakness&#8217; &#8211; chicagotribune.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In its SEC filing, Groupon said it sets aside a refund reserve by applying a financial model based on refund patterns from previous deals. The problem with this approach was that refund behavior started changing in late 2011 as the &hellip; <a href=\"http:\/\/bucktownbell.com\/?p=3617\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[63],"class_list":["post-3617","post","type-post","status-publish","format-standard","hentry","category-business","tag-groupon"],"_links":{"self":[{"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/posts\/3617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3617"}],"version-history":[{"count":1,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/posts\/3617\/revisions"}],"predecessor-version":[{"id":3618,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/posts\/3617\/revisions\/3618"}],"wp:attachment":[{"href":"http:\/\/bucktownbell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3617"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}