PacBell Under Reported Earnings

from the I-want-my-refund dept

What are we teaching folks in accounting classes these days? Is there a company out there that isn't having accounting problems? The latest is we find out that PacBell may have under reported its net income by $2 billion from 1997 to 1999. That may seem better than over reporting it, but this might mean that PacBell owes its customers an awful lot of money in refunds. At least an audit turned it up, and not bankruptcy proceedings.

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