Financial Accounting Blog

Tuesday, November 11, 2003

Cablevision will restate their 2003 earnings due to accounting errors. “THE RESTATEMENT will include the effect of $15 million in expenses that were improperly booked in 2002 and earlier, the cable company said.” After an internal investigation, Cablevision fired 14 employees for improper accounting of expenses and fabricated invoices. -K.C. Ho