CHANGES AND ERRORS - updated 1/14/14
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Related Articles and Web Sites:
- Katz, J. Edward The Accounting Cycle Debunking the Supposed Link Between Rules and Accounting Scandals Op/Ed. SmartPros Ltd, 2006
- Konrad, Tom: Maxwell's Earnings Restatement: Some Good, Some Bad, But No Ugly. Forbes online, 8/6/13. accessed 1/14/14: http://www.forbes.com/sites/tomkonrad/2013/08/06/maxwells-earnings-restatement-some-good-some-bad-but-no-ugly/
- Langley, Monica and Lee Hawkins Last-Minute Error at GMAC Caught Directors by Surprise; Share Price Drops Nearly 5%. The WSJ,March 18, 2006; Page A1
- Taub, Stephen and David M. Katz: AES Restatement Cuts Results By $556 Million for 13 Quarters. CFO.com, 1/20/2006. accessed 1/14/2014: http://ww2.cfo.com/accounting-tax/2006/01/aes-restates-by-556-million-names-cfo/
- But then: Gunther, M. AES Powerful Comeback. Money.com, 10/19/06. accessed 1/14/14: http://money.cnn.com/2009/10/16/news/companies/aes_corp.fortune/
- Sweeney, Paul Accounting Fraud: Learning from the Wrongs FEI September/October 2000
- Rapaport, Michael. New Rule: Accounting Changes to Be Charged to Past Periods. Dow Jones Newswire, 2005 Associated Press
- Author: Hickory Tech announces Restatement Hickory Tech online, 10/24/12. accessed 1/14/14: http://www.enventis.com/About-Us/News/Article-
Change in Accounting Principles:
- FAS 154 word file and FAS 154 excel files
- FAS 154 Changes (PDF)
- Change from FIFO to LIFO
- Change in Principle
Find the footnote in which the companies linked below discuss the various issues covered in this chapter. Briefly describe (a) why the company made changes; (b) what was changed; and (c) how the change was handled. You may need to do a little research to identify the year in which changes were made and you should consult the form 10-k for at least one of the companies. For more information see references in the case "SEC Holds a Meeting"
| Hickory Tech | Delta Airlines | IBM | Boeing | AES |
Practice Quizzes. Go to Stice for up to date quizzes
The REAL quiz (for points) is on Moodle
Contact Information
Office: Juniper Hall JH3203 Office Phone: 818-677-2437
Office hours: T 18:00 to 18:45 pm; after class and by appointment
Email: heidemarie.lundblad@csun.edu - Notice: I do not read or answer email from unidentified sources.
Department of Accounting Office: Juniper Hall JH3123
Department Telephone Number: (818) 677-2461
