Ace Hardware said it has discovered an error in its historical financial statements that showed a $154 million difference between the company's 2006 general ledger balance and its actual inventory records.
Ace said the final amount of the disparity might turn out to be less, but it probably would result in a restatement of the hardware store chain's financial results. The error accumulated over at least five years.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access