SEC v ACRODYNE COMMUNICATIONS, INC - Legal Case Documents


\|

SEC v ACRODYNE COMMUNICATIONS, INC

Keywords & Phrases

CaseNo: 34-47454, Defendant: Acrodyne Communications, Inc., Plaintiff: SEC, UniqueCaseRef: SEC>34-47454, Acrodyne, Accounting, Exchange Act, Revenue, Cost, Commission, Securities, Sales, Financial Statements, Recognition, Transactions, Respondent, Inventory, Improper Revenue Recognition, Books, Violations, Instituting, Pursuant, Officers, Personnel, Thereunder, Internal Accounting Controls, Accordance, Falsifying, Acrodyne Communications, Making Findings, Cease-and-desist Order, Reporting, Relating, Faulty Cost Accounting , ContentID: 120255846

Case Documents

2003-03-06

SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below ] ItemID: 133136

4 pages
HTML

Total Documents: 1 document , 4 pages

Price: $ 19.95

IVESLCD01 KGI0001

1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS

ACCOUNTING
EXCHANGE ACT
REVENUE
COST
COMMISSION
SECURITIES
SALES
FINANCIAL STATEMENTS
RECOGNITION
TRANSACTIONS
RESPONDENT
INVENTORY
IMPROPER REVENUE RECOGNITION
BOOKS
VIOLATIONS
INSTITUTING
PURSUANT
OFFICERS
PERSONNEL
THEREUNDER
INTERNAL ACCOUNTING CONTROLS
ACCORDANCE
FALSIFYING
ACRODYNE COMMUNICATIONS
MAKING FINDINGS
CEASE-AND-DESIST ORDER
REPORTING
RELATING
FAULTY COST ACCOUNTING

   Home | Previous Page

UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 47454 / March 6, 2003

   ACCOUNTING AND AUDITING ENFORCEMENT
   Release No. 1731 / March 6, 2003

   ADMINISTRATIVE PROCEEDING
   File No. 3-11055
     _________________________________________________________________



   ACRODYNE COMMUNICATIONS, INC.,

   Respondent.


     _________________________________________________________________

   :
   :
   :
   :
   :
   :
   :
   :
   :
   :
   :
   :
   :
   :
   ORDER INSTITUTING PROCEEDINGS PURSUANT TO SECTION 21C OF THE
   SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING A
   CEASE-AND-DESIST ORDER

                                     I.

   The Securities and Exchange Commission ("Commission") deems it
   appropriate that public cease-and-desist proceedings be, and hereby
   are, instituted pursuant to Section 21C of the Securities Exchange Act

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

ORDER INSTITUTING PROCEEDINGS PURSUANT TO SECTION 21C OF THE SECURITIES EXCHANGE ACT OF 1934,

The Securities and Exchange Commission deems it appropriate that public cease-and-desist

Acrodyne misstated these line items in its financial statements as a result of its faulty

Acrodyne significantly understated the cost of manufacturing its products when it closed its

Acrodyne consistently overstated its inventory and understated its cost of sales in its

With respect to Acrodyne's improper revenue recognition, Acrodyne failed to verify that it

As a result, Acrodyne prematurely recognized revenue from numerous transactions, including

As a result of the conduct described above, Acrodyne, through certain of its officers and

In addition, Acrodyne failed to implement internal accounting controls relating to its

As a result of the conduct described above, Acrodyne, through certain of its officers and

Lastly, as a result of the conduct described above, Acrodyne, through certain of its officers persons from knowingly circumventing or knowingly failing to implement a system of internal

Pursuant to Section 21C of the Exchange Act, that Respondent Acrodyne Communications, Inc.,


\|