Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Magazine

Table: What The Feds Are Looking Into


For over two years, the Justice Dept. and SEC have investigated CA accounts -- focusing on:

THE 35-DAY MONTH

The government says that, up until 2000, CA frequently inflated revenues. One tactic, referred to internally as the ``35-day month,'' involved booking in one quarter revenues from deals that closed several days after the quarter ended.

DOUBLE BOOKINGS

Investigators are examining whether CA illegally counted some revenues twice when it renewed long-term contracts before they expired. CA admits that it did some double booking until 2000 but denies any wrongdoing since the practice was disclosed.

OBSTRUCTION OF JUSTICE

Former Senior Vice-President Silverstein in January admitted to accounting misdeeds and pleaded guilty to lying to investigators to cover them up. He said the company higher-ups made him do it. Now prosecutors are investigating CA's top ranks.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus