We had Microsoft case for our group discussion today (FRA). Our focus was on accounting policy details of MS during 1999-2000. The time they were being investigated for it's revenue recognition policy as well as expense/cost recognition policy.
Some of the interstice points that were raised
1. Is google doing something similar
2. Microsoft was caught by SEC in 1999-2000 while Enron was cooking/starting to cook the book --- no one caught them. A mice was trapped but the cat got out
3. How to see thro' the earnings, P&L and Cashflows (using accounting practices) to find a lemon (My FAM class)
A class to remember for a long long time :-)
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