ACCT 540 Week 7 Assignment; Accounting & Auditing Enforcement Releases

ACCT 540 Professional Research for Accountants
(Keller Grad. - Spring 2016)

The company and the accused executives accounted for the increased revenue of approximately $2.5 million when they recorded the profit of sales to Bi-Coastal Pharmaceutical Corp. Bi-Coastal’s original payment of $1 million actually was a loan to NutraCea’s former COO to cover up the inaccurate earnings. Because of the loan, it caused the company to inflate their earnings 35% in the second quarter of 2007 and.....................................................
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