https://www.cnbc.com/2018/02/25/general-electric-to-restate-two-years-of-earnings.html
"The updated accounting standard, which will take into account revenue from long-term contracts, will result in a 13 cent cut in reported earnings per share for 2016 and a cut of 16 cents per share for 2017, according to the company's 10-K filing."
"GE is adopting the new accounting standards as the Securities and Exchange Commission is investigating GE over its accounting for long-term service contracts.
GE also is facing potential legal action by the U.S. Department of Justice over allegations that its GE Capital unit and now-defunct WMC Mortgage Corp. unit violated U.S. law in connection with subprime mortgages, according to the filing."
Submitted February 26, 2018 at 03:21PM by dvdmovie1 http://ift.tt/2BRcaWt
