Fuzzy accounting raises flags

greenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread

Like many individuals taking control of their investments, Gaudet has no training reading financial statements. So he assumed he could rely on earnings and revenue reported by Robotic Vision Systems. That faith disappeared May 15 when the computer chipmaker shocked investors with the news it earned 11% less last year than it originally reported due to accounting problems at one of its units.

http://www.usatoday.com/usatonline/20010622/3424856s.htm

-- spider (spider0@usa.net), June 24, 2001


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