said accounting errors including the reclassification of amounts
from its tax liability accounts to the general and administrative liability
accounts caused an understatement of expenses in financial results for 1998
through 2000.
The company, which is facing an investigation by the SEC into accounting practices, said the errors would
force the restatement of financial results for those years. The restated
financials will be filed with Securities and Exchange Commission by the end
of June.
Network Associates first shed light on the errors when it announced the cancellation of it planned
takeover of subsidiary McAfee.com said it also found
problems with the way payments to a distributor were recorded in its balance
sheet.
LINKSYS Network Storage System with 2 Bays at Memory Express Computers::
You can run a self test or scan the disk(s) for errors. Sales Associate - Customer Service - Accounting Clerk $36K+/yr. Now Hiring In Edmonton
http://www.memoryexpress.com/Products/PID-MX18548(ME).aspxHOME |
Cisco Signaling Gateway Manager User Guide, Release 3.1 - Working with ::
Viewing the Topology of the Network. Working with SGM Accounting and Statistics Reports Gateway Mated Pair Statistics Details: SCTP Assoc. Config Details
http://www.cisco.com/en/US/docs/net_mgmt/signaling_gateway_manage/user/guide/sgmusgmp.htmlHOME |
The software vendor said the earnings restatement would slice net income in
1998 by 3 cents a share and would narrow the net loss in 1999 by 2 cents a
share. In 2000, the restatement would widen its net loss by 16 cents per
share, the company said.
"In 1998, inaccurate accounting entries were identified that reclassified
amounts from the tax liability accounts to the general and administrative
liability accounts," Network Associates explained. "The cumulative impact
of these entries was to understate operating costs and expenses for 1998
by$6.2 million."
Network Administrator | TechRepublic.com::
port or associate with an open Wi-Fi network at the hotel Introduction to Requirements: Critical Details That Make or Break a Project Global Knowledge
http://blogs.techrepublic.com.com/networking/?cat=272HOME |
Jobble Network: Thursday, October 19, 2006::
Visit http://www.jobble.net/a.d/925707/view_category.php for complete details Monitor applications for errors, deliverables and tuning opportunities.
http://www.jobble.net/blog/2006_10_19_archive.htmlHOME |
In a detailed statement on the audit probe findings, the company said income
from operations and income before provision for income taxes were overstated
by $6.2 million and the provision for income taxes was overstated by $2.2
million.
Jobble Network: Sunday, March 26, 2006::
Determine and apply accounting policies and procedures * Ensure compliance with Create web pages to handle errors and monitoring of the site to ensure
http://www.jobble.net/blog/2006_03_26_archive.htmlHOME |
"The correction of the foregoing inaccuracies reduces previously announced
net income by $4.0 million from $36.4 million to $32.4 million, and reduces
previously announced 1998 basic and diluted Net income by (3 cents) per
share."
During 1999, Network Associates said inaccurate accounting entries were
identified that reclassified amounts from the tax liability accounts to the
general and administrative liability accounts and reclassified amounts from
the tax liability accounts to the sales return reserve account.
It also reclassified amounts from a general and administrative liability
account to a marketing liability account, causing an overall overstatement
of net revenues for 1999 by $28.2 million and an understatement of operating
costs and expenses by $1.5 million.
The audit also uncovered inaccurate accounting entries during 2000 when
payments to a distributor were recorded in a balance sheet tax liability
account instead of reducing net revenue.
Genuity Staves Off Delisting
Washington Post Co. to Shutter Newsbytes
Network Associates Details Accounting Errors 
PRINT
Add to favorites