Former Autonomy CEO Mike Lynch admits to using some of the accounting practices that H-P (HPQ)...


Former Autonomy CEO Mike Lynch admits to using some of the accounting practices that H-P (HPQ) says are irregular, such as selling computers to clients and booking part of the costs as marketing expenses, but denies that they're illegal. Lynch also says that turning what H-P says is improperly recorded revenue of over $200M into a $5B writedown "doesn't add up." Some analysts agree.
 

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Comments (2)
  • User 509088
    , contributor
    Comments (1703) | Send Message
     
    autonomous, as in having no conscious control?
    22 Nov 2012, 11:46 AM Reply Like
  • TwistTie
    , contributor
    Comments (2429) | Send Message
     
    I finally figured it out.

     

    Since HP's accounting staff have eschewed PC's in favor of their trusty HP-35 calculators, they fat-fingered the numbers and are expected to apologize for the confusion.

     

    It was a stupid mistake; like buying Autonomy.
    23 Nov 2012, 11:22 AM Reply Like
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