Yesterday the company’s share price fell by 4% to $83.32 after it became known that the SEC investigation was focused on IBM’s revenue recognition practices in 2000 and 2001, and how it dealt with ‘certain types of customer transactions’.
Early morning trading in New York today has seen the share price recover some lost ground though, climbing to $84.80.
A spokesman for IBM said yesterday: ‘IBM believes that the investigation arises from a separate investigation by the SEC of a customer of IBM’s Retail Store Solutions unit. This unit markets and sells point-of-sale products.’
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements