Please ensure Javascript is enabled for purposes of website accessibility
November 27, 2022

IBM: We Mind the GAAP

IBM disclosed an investigation into its revenue recognition today but isn't worried too about it:

In a statement on the investigation, IBM defended its accounting practices as “rigorous and disciplined,” adding that it is “confident that the results and information we report have been appropriate and consistent with GAAP,” or Generally Accepted Accounting Principles.

The company's been subject to a few SEC inquiries over the years, including one that wrapped up last year. They know the drill.

[10-Q, Re/code]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

New SOX In the U.K.? It’s (Probably) Coming Soon

The February gloom was broken recently by the news that the British government will be introducing reforms targeting company financial reporting and audit oversight. In truth, none of this should be a surprise. There have been several accounting scandals in recent years where the directors of various companies have been unscrupulous and their external auditors […]

Florida Gives Deloitte Consulting a Happy Ending

The saga between Florida and Deloitte Consulting—a relationship bizarre enough to be reported by TMZ or covered by Perez Hilton—keeps on keeping on, as the state’s Agency for Health Care Administration is going ahead with Big D on a potential $135 million contract to overhaul Florida’s Medicaid data system, according to the Tampa Bay Times. […]