6. [Monvation for income manipulation) A Business Week (February 14, 1994, pp. 78-92) article entitled, Did Pfizer
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6. [Monvation for income manipulation) A Business Week (February 14, 1994, pp. 78-92) article entitled, "Did Pfizer Doc- tor Its Numbers," suggests that for the 1993 fiscal year, Pfizer, a pharmaceutical and chemical company, "managed down the numbers." Specifically, the article contends that: the company is spending heavily and delaying sales to de- liberately dampen Pfizer's profit growth rates... Pfizer pinched fourth-quarter sales while boosting expenses... Pfizer also boosted R&D spending more than its rivals. Suggest why Pfizer might have engaged in such actions.
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Related Book For
The Analysis And Use Of Financial Statements
ISBN: 9780471375944
3rd Edition
Authors: Gerald I. White, Ashwinpaul C. Sondhi, Haim D. Fried
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