Monsanto Caught in a Roundup

In February 2016, the Securities and Exchange Commission (SEC) announced Monsanto--the St. Louis-based company that makes Roundup and other herbicides--had agreed to pay a $80 million penalty for accounting violations. The SEC allegations included two basic claims: (1) Monsanto had misclassified sales rebates (which are essentially sales refunds) as expenses rather than as direct reductions of revenue, and (2) Monsanto had misreported the timing of the rebates by reporting them in the year they were paid rather than the year in which Monsanto had committed to the rebates on sales it made earlier that year. Explore the consequences of these two issues by completing the simplifed examples belo

Samsung's Exploding Earnings

Stop using your smartphone! It might catch fire and explode. That’s the message Samsung hinted at one weekend in September 2016. Its recall

Featured Posts
Recent Posts
Archive
Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

© 2018 by SPOTLIGHT ON ACCOUNTING. Easily created with Wix.com