Quest Software said it would record $143 million in accounting adjustments related to stock option issues from 1999 through March 31, 2006.

The company also identified additional accounting errors in which software revenue recognition rules were inconsistently or incorrectly applied on software license and service transactions. Quest said it should have recorded intangible asset impairment charges when it discontinued some software products it had acquired instead of continuing to amortize them over the assets' remaining estimated useful life.

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

Don't have an account? Register for Free Unlimited Access