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Microsoft Settles SEC Accounting Probe | |
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||
| Time: 13:12 EST/18:12 GMT | News Source: Reuters | Posted By: Byron Hinson | ||
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Microsoft Corp agreed to stop using an accounting practice that allegedly understated revenues and misled investors, the Securities and Exchange Commission said on Monday. However, the world's largest software maker will not have to change any previous earnings reports. Microsoft consented to a cease-and-desist order but did not admit or deny charges that from 1995 through 1998 it maintained seven reserve accounts containing a total of $200 million to $900 million in unsupported and undisclosed reserves. | ||
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