Posted on Tuesday, July 27th, 2010 at 4:34 pm.
A Texas-based PC company, Dell and its executives, will be paying $100 million to settle a false accounting and accounting fraud suit with the U.S. Securities and Exchange Commission.
The director of the SEC claims that Dell manipulated their numbers to what they wanted the results to be and what they wanted to achieve, but could not.
The SEC charged senior executives with failing to disclose receipts of payments and misinterpreting the company’s finances. Other officials were also charged with improper accounting.
If you or a loved one has questions on the financial for your business, contact Austin accounting for more information.