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Executive Summary- Sunbeam Corporation

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Issue:

Business

 

Written by:

Florence R

 

Date added:

May 10, 2017

 

Level:

University

 

Grade:

A

 

No of pages / words:

1 / 248

 

Was viewed:

926 times

 

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Essay content:

The restatement did the following: 1) reduced the 1996 net loss by $20 million, 2) reduced 1997 net income by $71 million, and 3) increased 1998 earnings by $10 million. A total of $62 million of Sunbeam?¦s 1997 reported $189 million pre-tax income was a result of fraud. The following major points can be ascertained from the report: ?X In 1996, Sunbeam?¦s CEO and Chairman, Albert J...
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A total of $62 million of Sunbeam?¦s 1997 reported $189 million pre-tax income was a result of fraud. The following major points can be ascertained from the report: ?X In 1996, Sunbeam?¦s CEO and Chairman, Albert J. Dunlap led the company in a corporate restructuring which provided a hefty reserve to protect against future earnings shortfalls...
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