A "special task force" assigned by Toshiba Corp to look into accounting irregularities found that the company underestimated the costs of three infrastructure projects by ¥50 billion ($419 million). The company also said that "the review was continuing and the ¥50 billion figure could be revised later," allowing for the possibility that this could reach VA hospital levels of ineptitude. [WSJ]
Related Posts
IBM: We Mind the GAAP
- Caleb Newquist
- October 27, 2015
IBM disclosed an investigation into its revenue recognition today but isn't worried too about it: […]
ICYMI: Here Are Some Accounting Execs Talking About How Useless XBRL Is
- Caleb Newquist
- December 4, 2012
The mandatory use of eXtensible Business Reporting Language by large public companies began in 2009 […]
Who Puts “USGAAP” on Their License Plate?
- Caleb Newquist
- May 14, 2015
It's nice to see a little national accounting pride, I guess: A few suspects: Christopher […]
