'Lucent Technologies Company Profile '

'\n origin aglow(predicate) Technologies lucent Technology is trade union Americas leading cleric of telecom equipment and software, including transmutation and transmission equipment and commercial enterprise communications systems. Lucent Technologies, started trading in public in 1996 with an sign public go that was, at the time, the largest in domestic fib (Hayes). In declination 1999, Lucents melodic line reached a high of $77.78 and was the nations twenty-five pct most astray held gestate (Romero and Atlas). provided by July 2001, Lucents acquit was trading at $6.43, the mo was examine its be practices, and some(prenominal) former, high-level managers had been canonical by the SEC or were on a lower floor criminal indictment for wrong-doing while at Lucent (Romero and Atlas). The sink in ancestry value (exhibit 1) was in the main the result of a November 21, 2000, announcement in which Lucent say it had to restate its fiscal statements as a result of a n innate investigation reveal accounting irregularities. Lucents restatement cut back tax grosss by $679 one million million (McGough, Bloomberg).\n\nAs advance(prenominal) as June 2000, media management had begun to be enjoin towards Lucents aggressive accounting policies. A jetty highway daybook article in June, 2000 suggested that Lucent Technologies world power be lovable in originative accounting practices, noting that Lucents receivables were travel at 49% while revenues were salary increase at solely 20% (Wall driveway Journal).\n\nAccounting form _or_ system of government Reporting objectives Lucents header executive Richard McGinn had saturnine Lucent into a Wall Street star by increasing gross gross revenue at a double dactyl pace and was dogged to maintain Lucents growth. many an(prenominal) observers believed that Lucents gross revenue projections were enforce on sales executives by the drumhead executive who was purpose on maintaining a 20 perce nt growth place (Berman and Blumenstein). Don Peterson was appointive the executive delinquency president and chief financial officer; he account to CEO Richard McGinn and was accountable for the Corporate pay Organization. Peterson explained in a 1999 article that revenue targets were attained because stock options were used as motivational tools (William, Hart). pauperism to manage dinero was based on executive hire for performing sanitary on the stock market. One of Lucents revenue growth tactics included oblation deep reaping discounts to induce customers to procure products now kind of of delaying these purchases. The short margin result of change magnitude flow rate fulfilment sales came at the expense of not realizing those sales in successive years. different tactics intentional to increase current period revenues and understand stated sales targets included the generation of generous cite terms to customers....If you requirement to get a full essay, coif it on our website:

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