Ford Motor Co. restates its financial results from 2001 through third-quarter 2006, increasing net income during the period by $850 million. The restatement corrects accounting for some derivative transactions pertaining to interest-rate swaps by Ford Motor Credit Co. and comes as a result of the complexity of the Statement of Financial Accounting Standards (SFAS) 133 – Accounting for Derivative Instruments and Hedging Activities, says Chief Financial Officer Don Leclair. “After a review ...
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