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Ericsson defends practices as report questions revenue accounting
July 18, 2016 by creative · Leave a Comment
Swedish telecom equipment maker Ericsson defended its accounting practices after a newspaper questioned the way it booked future sales which had yet to be invoiced. The company denied any wrongdoing and said in an emailed statement that “the claim that Ericsson in an inaccurate way has reported revenues in the income statement is not true”. Ericsson referred to the annual report, which states that one of the conditions for reporting sales is when “collection is reasonably assured”
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Ericsson defends practices as report questions revenue accounting