A Look at VeriFone's Accounting
In an article subtitled "Payment Firm VeriFone Can't Count Its Money", Troy Wolverton of the San Jose Mercury News reports on VeriFone's announcement earlier this week that it "had overstated its pre-tax profit by 80 percent this fiscal year." Wolverton says that "the situation is not without its ironies: a high-tech company felled by a low-tech problem; a company that helps customers count money, having trouble counting its own."
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