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  • August 2011 (Revised July 2012)
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Mike Mayo Takes on Citigroup (A)

By: Suraj Srinivasan and Amy Kaser
  • Format:Print
  • | Language:English
  • | Pages:22
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Abstract

The case details the conflict between Mike Mayo, an influential banking analyst and Citigroup about what Mayo considers aggressive accounting policies. Mike Mayo questions Citigroup's lack of a valuation allowance against their Deferred Tax Assets despite Citi's recent loss. The case discusses the economics and accounting for deferred tax assets. It also focuses on management-analyst relations and challenges faced by analysts in providing bad news on companies. The inclusion of deferred tax assets in Tier 1 capital and implications for regulatory capital are also discussed.

Keywords

Accounting; Taxation; Capital; Financial Reporting; Corporate Disclosure; Valuation; Banks and Banking; Financial Strategy; Money; Conflict Management; Capital Budgeting; Asset Management; Banking Industry

Citation

Srinivasan, Suraj, and Amy Kaser. "Mike Mayo Takes on Citigroup (A)." Harvard Business School Case 112-025, August 2011. (Revised July 2012.)
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About The Author

Suraj Srinivasan

Accounting and Management
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Related Work

    • August 2011 (Revised July 2012)
    • Faculty Research

    Mike Mayo Takes on Citigroup (A)

    By: Suraj Srinivasan and Amy Kaser
Related Work
  • Mike Mayo Takes on Citigroup (A) By: Suraj Srinivasan and Amy Kaser
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