Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Diebold concludes bill-and-hold talks with OCA
NORTH CANTON, Ohio (1/16/08)--Diebold has revised its revenue recognition method and will now recognize revenue upon customer acceptance of products at a customer location, the company announced Tuesday. The change will not affect the timing of related billing and collection activity, or the total cash flow from operating activities. Diebold plans to review the impact of the change on its 2006 and 2007 revenue with external auditors, and will provide updated revenue estimates for those periods, the company stated. The review is expected at the end of this month. Preliminary financial results for the second, third and fourth quarters of 2007 also will be made available. Financial statements for the fiscal years ending Dec. 31 during 2006, 2005, 2004 and 2003, and quarterly data in each year ending Dec. 31 for 2006 and 2005 must be revised to reflect the revised accounting method, Diebold stated in a press release. Diebold, an ATM manufacturer, has been in discussions with the Office of the Chief Accountant of the Securities and Exchange Commission, regarding its prior practice of recognizing certain revenue on a “bill and hold” basis. The company announced Oct. 2 that it would discontinue “bill and hold” as revenue recognition. Diebold said discussions have concluded.
Other Resources

RSS





print
News Now LiveWire
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
33 minutes ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
37 minutes ago
#Jobless claims duck under 300K for 3rd straight week #Market #Economy http://t.co/jOsZWf9HNJ
42 minutes ago
62% worry about financial stability: @CUNAMutualGroup study http://t.co/5jCM1I1hnA
2 hours ago
.@nytimes reports Sen. Harry Reid, Senate Democratic leader since 2005, will not seek re-election next year,
3 hours ago