Between 2003 and 2006, Dell execs manipulated earnings reports to make the company appear more attractive. How big was the difference?
It’s been estimated that the bottom line has been altered by anything from $50 to $150 million, which would amount to about a 2 to 7 cents change per share. So who was responsible?
“Which executives knew isn't clear yet. A Dell representative said the company is "taking responsibility as a team" and isn't naming names.
According to a statement released by the company, the investigation yielded evidence that "certain adjustments appear to have been motivated by the objective of attaining financial targets," and usually took place at the end of a fiscal quarter. Adjusted account balances were "reviewed, sometime at the request or with the knowledge of senior executives," according to a company statement.”
What do you think of all the recent corporate accounting fudges that have made headlines? Is this a new era in corporate accountability or are execs simply stretching the facts more than ever?