WORLDCOM (video 13:00 timeslot()) WORLDCOM - (video 13:00 timeslot())
reporting less expenses and more profit found and penalized by the authorities.
$500 million cost of assets was recognized as "expense" in a single year, but that accounting treatment was incorrect as per financial GAAP regulations.
Since the assets had a life ...WORLDCOM - (video 13:00 timeslot())
reporting less expenses and more profit found and penalized by the authorities.
$500 million cost of assets was recognized as "expense" in a single year, but that accounting treatment was incorrect as per financial GAAP regulations.
Since the assets had a life of 10 years, only $50 million was supposed to be recognized as "expense" per year.
WORLDCOM - (video 13:00 timeslot()) reporting less expenses and more profit found and penalized by the authorities. $500 million cost of assets was recognized as "expense" in a single year, but that accounting treatment was incorrect as per financial GAAP regulations. Since the assets had a life ... WORLDCOM - (video 13:00 timeslot())
reporting less expenses and more profit found and penalized by the authorities.
$500 million cost of assets was recognized as "expense" in a single year, but that accounting treatment was incorrect as per financial GAAP regulations.
Since the assets had a life of 10 years, only $50 million was supposed to be recognized as "expense" per year.
Thx
L.Mohan Arun
Read More