Thread Series : Fact Check of @AltNews @free_thinker and LKFC @zoo_bear
Thread 3
Well in the last thread I showed you all how Pravda Media Foundation converted money received as donations in 2017-18 to income and further showed the remaining money to be the Net Profit. The net profit of Alt News for 2017-18 was around ₹ 23 Lacs.
Well it’s a common understanding that if you want to find a financial loophole/scam then analyse the Expenses which is shown.
So in this thread I will cover the Expenses incurred by Alt News in 2017-18.
I request you all to share this maximum.
Thread 3
Well in the last thread I showed you all how Pravda Media Foundation converted money received as donations in 2017-18 to income and further showed the remaining money to be the Net Profit. The net profit of Alt News for 2017-18 was around ₹ 23 Lacs.
Well it’s a common understanding that if you want to find a financial loophole/scam then analyse the Expenses which is shown.
So in this thread I will cover the Expenses incurred by Alt News in 2017-18.
I request you all to share this maximum.
So here’s the audit account of Pravda Media Foundation for 2017-18:
Pic 1 - As you can see yourself that Alt News has very smartly diverted ₹ 13,24,610 out of ₹ 35,44,145 as donations into Non Current investment ( which includes IPR, Physical Properties etc.) but the big question is how could they do it??
The answer lies in Pic 2 - Alt News has shown a total of ₹ 12,76,650 as total expenses for 2017-18 out of which ₹ 10,35,450 is shown as Employees Benefit Expenses ( Including salaries, remuneration etc.
Simple Maths
Total Income: ₹36 Lacs
Total Investment: ₹ 13 Lacs
Total Expenses: ₹ 12.76 Lacs
Yet Net Profit : ₹ 23 Lacs
Is it even possible???
A few questions to financial experts here :
1. Can money received through donations for a specific purpose of Fact Checking be used in Non Current Investments?
2. Is Net Profit calculated includes Non Current Investments or NCI is Excluded from Net Profit?
3. Has Pravda Media Foundation diverted funds received from donations and shown them as Employee Expenses and utilised them for personal investments???
As a layman who has limited knowledge of current accounting standards I request people from accounting standards to enlighten us more.
Pic 1 - As you can see yourself that Alt News has very smartly diverted ₹ 13,24,610 out of ₹ 35,44,145 as donations into Non Current investment ( which includes IPR, Physical Properties etc.) but the big question is how could they do it??
The answer lies in Pic 2 - Alt News has shown a total of ₹ 12,76,650 as total expenses for 2017-18 out of which ₹ 10,35,450 is shown as Employees Benefit Expenses ( Including salaries, remuneration etc.
Simple Maths
Total Income: ₹36 Lacs
Total Investment: ₹ 13 Lacs
Total Expenses: ₹ 12.76 Lacs
Yet Net Profit : ₹ 23 Lacs
Is it even possible???
A few questions to financial experts here :
1. Can money received through donations for a specific purpose of Fact Checking be used in Non Current Investments?
2. Is Net Profit calculated includes Non Current Investments or NCI is Excluded from Net Profit?
3. Has Pravda Media Foundation diverted funds received from donations and shown them as Employee Expenses and utilised them for personal investments???
As a layman who has limited knowledge of current accounting standards I request people from accounting standards to enlighten us more.
The issues highlighted in the above posts are just a tip of the iceberg as tomorrow I shall discuss and analyse the financial statements of 2018-19.
Thank you so much for all the love, support and blessings I am receiving from you all.
End of Thread 3.
See you all tomorrow.
Thank you so much for all the love, support and blessings I am receiving from you all.
End of Thread 3.
See you all tomorrow.
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