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Report: Microsoft Accounting Eyed | |
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| Time: 12:26 EST/17:26 GMT | News Source: Associated Press | Posted By: Byron Hinson | ||
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Microsoft Corp. is negotiating with the Securities and Exchange Commission over accusations that the software giant misrepresented its financial performance, The Wall Street Journal reported Thursday. Quoting unnamed sources, the newspaper said that rather than imposing fines, the SEC is likely to bring civil charges that Microsoft, based in suburban Redmond, failed to keep accurate books and records. A common resolution in such cases is for a company to promise to follow SEC rules in the future. | ||
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| #1 By 1124 (165.170.128.66) at 5/30/2002 1:05:37 PM |
| This is old news. This happened back in 99. Also, the most likely punishment for this horrid(Enron like) crime is a promise to follow SEC rules in the future. |
| #2 By 20 (24.243.51.87) at 5/30/2002 1:36:37 PM |
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This isn't anywhere near Enron proportions. Enron hid billions of dollars of loss and debt in other holding companies. MS is making profit, that's obvious, it's just that they fudged the numbers a little bit to make it seem more or less (depending on how you understand the story).
While not legal or ethical, it's certainly not anywhere near what Enron was doing. |
| #3 By 1124 (165.170.128.66) at 5/30/2002 2:49:25 PM |
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Daz,
The Enron comment in my post was pure sarcasm. |
| #4 By 135 (209.180.28.6) at 5/30/2002 3:42:44 PM |
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#6 - McDonalds is making a profit and continuing to take money in during a bad economy... Therefore they must have a monopoly?
---- The news wires I read simply said SEC was in settlement talks. This one sounds more accusatory. In other news the EU announced there is no need to review the Navision acquisition, so it's going through as planned. |
| #5 By 2960 (156.80.64.164) at 5/30/2002 4:45:35 PM |
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#1,
Apple has managed to do it :) TL |
| #6 By 1896 (208.61.156.190) at 5/30/2002 7:42:43 PM |
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There is a difference between hiding profits and redistributing them along the fiscal year. Btw this practise is not , or at least it wasn' t, illegal. It is one of the many example of the grey areas of accounting. It is the same everywhere around the world and basically it works more or less as software debugging: trying to detail each and every scenario create new grey areas.
Guys go out and relax. |
| #7 By 2332 (165.247.2.189) at 5/30/2002 8:25:56 PM |
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All companies have a certain amount of leeway when it comes to profits reporting. Microsoft has maximized this leeway, and the SEC wants to make an example out of them.
*ALL* companies do this EXACT SAME THING to one degree or another (more often hiding losses rather than profits), and Microsoft is getting nailed not because they are unique or particularly bad, but because they are the biggest guy on the block, and making an example out of them makes the best headline. Anybody who would compare this to Enron is either a liar or a moron... or both. (Or kidding, as I assume people were.) |
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