I have difficulties to understand a few things with this case...(word does not count, I just need your opinion).1. I'll review it and provide my response later today. Hi - I can not give out my personal email, per JA policy, but you can attach it as a Word doc here by using to upload the file and then copying and pasting the link to it here. This led to "overly aggressive accounting practices" to boost their reported earnings.
Suppose you were placed in Stephen Richard’s position at Computer Associates and you were under pressure to extend the fiscal quarter. I thought I could find it easy enough, but no luck so far.
At least 18% of revenue in the first quarter, 33% of revenue in the second quarter, 26% of revenue in the third quarter and 7% of revenue in the fourth quarter involved contracts not executed by CA or the company's clients by the quarter's end.
In fiscal year 2000, CA met or exceeded the Wall Street consensus estimate.
In its complaint against Silverstein, the SEC said some CA employees referred to the company's extended quarters practice as its "35-day month" because quarters were generally extended by at least three business days.
The period in question predates the move by CA to a new subscription revenue model under which it recognizes revenue incrementally over the life of a contract -- rather than upfront as it previously did.
It's free, you do not have to sign up for an account (unless you want to), and it's pretty easy. Evidence supported that the managerial use of discretion to greatly influence reported earnings was not only used by Richards', but it had become a company-wide practice.
Just go to click "upload", click the " " sign, choose the file from your computer, click "begin upload", then "copy" the link and paste it here. This naturally drew the attention of the DOJ and the SEC as they investigated the potential wrongdoings.Shares of Computer Associates fell 14 cents, or 0.5%, to close Thursday at .77.Hi MBAGrad, I am writing about `A Letter from Prison` and Computer Associates Stephen Richard`s fraud case. Please send me a link or copy and paste the case here. Stephen Richard's actions in this can be viewed as extremely serious because he used his high position of power in sales to coerce clients into boosting sales earnings by quarter.Zar and Rivard were fired last year after an internal investigation -- sparked by external probes by the SEC and U. attorney's office -- found that the company booked revenue earlier than it should have.Kaplan left to "pursue other opportunities" in December.Rivard also knew that CA customers were backdating signatures on contracts, according to the SEC.