Lexington, Mass. (Jan. 14, 2003) -- Accounting and revenue recognition practices at the commuter aircraft division of defense contractor Raytheon Co. is the subject of a probe by the Securities and Exchange Commission.
The probe is said to be focusing on accounting practices at the division, which manufactures such brand names as Beechcraft and Hawker, from 1997 through 2001.
In a statement the company said its accounting practices at the unit are "appropriate and the company will cooperate with the SEC probe."
-- Electronic Accountant Newswire staff
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