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First Data Restates Over Derivatives

The credit card giant complains that FAS 133 interpretations are "very complex and continue to evolve," and notes that Ernst & Young initially signed off on its derivative accounting.

> > First Data Corp. said it will restate results for 2005 and for the first two quarters of 2006 after "extensive interaction" with the SEC regarding its accounting treatment for certain derivative instruments.
Source: CFO


Published:2006-08-24
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