Financial Reporting


The GAO releases a report, Trends, Market Impacts, Regulatory Responses, and Remaining Challenges ( www.gao.gov/new.items/d03138.pdf ), which found the number of times public companies restated their financial results due to accounting irregularities rose 145% from January of 1997 through June of 2002. The agency analyzed 919 restatements made by 845 public companies. About 10% of publicly traded companies made at least one such adjustment during this period, according to the study. Improper recognition of revenue was the most frequently cited reason for the restatements.

Where to find June’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

SPONSORED REPORT

Better decision-making with data analytics

Data analytics has become a hot topic, but many organizations have not yet managed to understand its potential, let alone put it to work. This report will take a deep-dive on how to best introduce or enhance the use of data in decision-making.