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The last time Macy's reported a major accounting issue was in 2006 when the company restated financials over a "cash flow classification," Ideagen Audit Analytics, a research and data provider, said.
Macy's on Monday delayed its third quarter earnings release as it conducts an internal investigation into an employee hiding up to $154 million of expenses.An employee responsible for small ...
An accounting investigation is under way at Archer Daniels Midland and the top financial executive at the agribusiness giant has been placed on administrative leave. The company postponed the ...
A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Many recent corporate collapses and scandals have involved some type of false or inappropriate accounting (see list at accounting scandals).
Turnover in accounting personnel or other deficiencies in accounting and information processes can create an opportunity for misstatement. As for misappropriation of assets, opportunities are greater in companies with accessible cash or with inventory or other valuable assets, especially if the assets are small or easily removed.
Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.
(Reuters) -Macy's on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell ...
This article is an incomplete list of Financial Accounting Standards Board (FASB) pronouncements, which consist of Statements of Financial Accounting Standards ("SFAS" or simply "FAS"), Statements of Financial Accounting Concepts, Interpretations, Technical Bulletins, and Staff Positions, which together presented rules and guidelines for preparing, presenting, and reporting financial ...