CSC delays annual report over accounting errors
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Computer Sciences Corp. has delayed filing its annual report with the U.S. Securities and Exchange Commission because it has found "significant" accounting errors over multiple years, the IT services provider announced Wednesday.
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Sony Corp. and Pioneer Corp. said on Wednesday they would delay their annual earnings reports by a few weeks as they grapple with the extra paperwork needed to comply with tougher U.S. accounting rules.
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The SEC has postponed by a year its plans to shorten the time companies have to file their annual reports -- a move expected to help firms more easily adopt Sarbanes-Oxley reporting requirements.
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Â· Systems failure on busiest day of the tax yearÂ· Self-assessment deadline extended by one day
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Twinkie maker Interstate Bakeries (IBC:NYSE - news - research) on Monday delayed filing its annual report for the second time, citing problems with its books that the company said could end up pushing it toward bankruptcy.
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The U.S. Securities and Exchange  Commission said on Wednesday it was postponing by one year a  deadline for large corporations to speed up filing of  annual  and quarterly financial reports with the SEC.
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Nortel Networks will restate its results for the fourth time in four years, a move that will delay the filing of its 2006 annual report.
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WebMethods Inc. said yesterday it has delayed filing its quarterly financial results because an employee in one of its international subsidiaries has raised concerns about some of its business dealings.
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The accounting disaster at Nortel Networks -- which has already resulted in several firings - deepened today as the company said it is again delaying the release of its financial statements and restatements.
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AES announced last night that it would restate its past financial results because of accounting "errors" that it said "would likely be material" for 2006, and it notified the Securities and Exchange Commission that it was seeking an extension to March 16 to report results.
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Dell Inc said it would delay filing latest quarterly earnings report with the US Securities and Exchange Commission because of an ongoing accounting probe by the federal regulator.
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Krispy Kreme Doughnuts Inc. (KKD.N: Quote, Profile, Research) on Monday delayed filing its quarterly financial report with the US Securities and Exchange Commission, citing an ongoing analysis of its accounting practices.
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SAN FRANCISCO (CBS.MW) -- BJ Services Co. said after the bell Wednesday that it will further delay filing its 2004 annual report with the US Securities and Exchange Commission, citing a continuing review of its Asia Pacific region operations.
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Sony Corp. said on Wednesday it would  delay its annual earnings report by a few weeks as it grapples  with the extra paperwork needed to comply with tougher U.S.  accounting rules.
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(InfoWorld) - Dell Inc. has delayed filing its quarterly earnings report with the U.S. Securities and Exchange Commission (SEC) and may have to restate past earnings statements, the company said Monday. Dell's board of directors began an internal financial audit after learning in August 2005 that the SEC had begun an investigation of the company's revenue recognition and accounting practices for past fiscal years, Dell executives acknowledged Aug. 17 while announcing preliminary results for the second quarter. Since then, Dell learned of a second investigation when the U.S. Attorney for the Southern District of New York subpoenaed the company's financial reporting documents for the years from 2002 through today, said Dell spokesman TR Reid. Neither the SEC nor New York State has announced the results of their investigations, but Dell's internal audit has now revealed that the company may have misstated prior financial reports, including accruals, reserves and other balance sheet items. Until it settles those questions, the company cannot file its SEC Form 10-Q, which confirms its quarterly results, Reid said. Those preliminary results were bad even before Monday's news. Dell earned only US$502 million in profits for the second quarter of 2006, a drop of 51 percent below that period last year. The decline was a casualty of cutting prices in a slow market, Dell Chief Executive Officer Kevin Rollins told analysts in August. Dell, the world's largest PC vendor, has felt increasing competitive pressure from Hewlett-Packard Co. at the same timeÂ chip makers like Intel Corp. have been cutting prices on processors, helping to drive down PC prices. And on Aug. 14, Dell announcedÂ the largest recall of consumer electronics in U.S. history, recalling 4.1 million notebook batteries that suffered from a defect causing them to overheat and sometimes catch fire. Dell is cooperating with both investigations and "will take any appropriate remedial or corrective actions to address any problems," company chairman and founder Michael Dell said in a release. The company has also suspended its share repurchasing program and a meeting with analysts scheduled for Sept. 13. Â
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US food company Interstate Bakeries has said that it has had to delay filing its fiscal year report. The company had previously obtained an extension to last Friday for filing its Fiscal 2004 Form 10-K with
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The world's largest tire maker delays filing annual financial reports -- again.