Dell: We've got accounting problems

Dell: We've got accounting problems

Summary: Dell said it will delay its annual report as it has found "a number of accounting errors, evidence of misconduct, and deficiencies in the financial control environment."The delayed report with the Securities and Exchange Commission is the latest in a series of issues facing Dell.

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Dell said it will delay its annual report as it has found "a number of accounting errors, evidence of misconduct, and deficiencies in the financial control environment."

The delayed report with the Securities and Exchange Commission is the latest in a series of issues facing Dell. Management turnover, missed quarters and intense competition from Hewlett-Packard has rattled Dell. Founder Michael Dell has returned as CEO to fix matters. So far the company has been mum about its progress or future game plan. 

In a statement, Dell said:

"The Audit Committee is working with management and the company's independent auditors to determine whether the accounting errors necessitate any restatements of prior period financial statements, and to assess whether the control deficiencies constitute a material weakness in Dell's internal control over financial reporting."

Topics: Enterprise Software, Banking, Dell

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  • Raise your hand if you're NOT surprised.

    I don't know how they can stay in business, given the quality of their computers -- which is excruciatingly bad despite some [i]superficial[/i] innovations.

    I know people who deal with their service centers and what it takes to replace a LCD monitor under warranty would make any company look poorly organized (to say the very least). Knowing the finer details there, it's no shock their accounting practices would be dirtier than any given urban public bathroom.

    Dell is a dilettante company; it was a bunch of smooth talking peddlers that got them to being anything remotely successful. This article only continues to prove what is increasingly obvious, and maybe I'm from the time when standardizing on poor quality equipment was a stupid thing to do, but I'll admit times change.
    HypnoToad72
  • Time to buy...

    ...some ACL software.
    Omch'Ar
  • their entry into linux.

    Looks like they have to do all the hard work in getting linux to work for desktops. Also most likely having a higher support costs for linux, I think it wont be profitable.

    This was a time for Dell to get back to basics. That is the one thing that they arent doing.
    zzz1234567890
  • Most Corporations Have This Stuff

    Most corporations have something corrupt about them. A corporation isn't really anything at all. It is full of people. It is ineffective in a lot of ways, but if you look at the structure, a corporation is merely a way for slave owners to communicate to slave drivers how to push their slaves. Investors hire officers who tell the workers what to do. The reason the hierarchy is so lax is because it, in no way, was intended to provide for a fair, legitimate working environment. A corporation's sole purpose is to provide a income to rich people who don't want to do any work for their money. So if the people within the corporation can get away with misbehaving for their own reasons, they sure will try. The investors only care about their income streams from shares. The officers only care about answering to the investors and holding to their financial performance promises that got them the job. The managers just want 6 figure incomes without doing any work because they "know" somebody in group of officers, so they work the workers under the threat of firing them at any time for any reason. And the workers only care about not getting fired by their managers. On top of all this, the US Federal Government isn't really anything at all, either. It's just a corporation (such as George W. Bush) with investors (campaign contributors) who have their own personal interests, who then instate their corporate officer, who hires his own managers (his cabinet of true scum), and then he enacts financial power exertions in response to his shareholders' wishes. With the GOP Congress, they are much the same, and they pass legislation that distorts the financial system so the meritless rich can continue to thrive no matter how horrible life gets for everybody else. And then of course all this legislation is only enforced for those who have enough resources to hire a lawyer to press charges on the perpetrator, let alone the court itself isn't corrupt, and they even know in the first place that there is indeed a law against whatever insidious act of oppression is in question.

    So while all this goes on, if everybody's relatively doing okay, nobody is going to complain. But that's just like saying prayer works. That's only when life is bearable. When it becomes obvious your prayers aren't being heard, it's time to unfold your hands and clench your fists.
    bcroner
    • The Analogy

      I forgot to add who the investors of the campaigns are. Everybody knows this anyway, but only corporations are in a position to finance a campaign. So corporations are officially first-class citizens in America.

      Here's the American slave positional hierarchy:

      -President & Vice President Slave Camp Officer
      -Managers and Thug Underlings
      -Bribe-Ready Congressional Officers
      -Corporate Officers
      -Corporate Managers
      -Employed Workers
      -Immigrant Laborers

      Here's the people hierarchy:

      -Investors
      -Officers
      -Managers
      -Workers
      -Non-Citizen Residents

      So if you think your vote counts, you're wrong all the way. Don't vote. It's waste of time. The only way to get what you want is to either finance a successful election, or bribe an incumbent politician. This is America.
      bcroner