Bachelor of Arts
Dr. David Murphy
Dr. Francis Bush
Dr. Nichole Sanders
This paper is about several accounting irregularities in Hertz Global Holdings’ annual reports for the years 2011-2013. These mistakes led the company to sue former chief Executive Officer, Mark Frissora, and other senior managers to return at least $70 million in incentive compensation for their actions (AccountingToday, 2019). Hertz commented that the restatement of their accounting errors would likely reduce its 2011 fiscal year net income by as much as 18%, 2012 fiscal year by 14% and 2013 fiscal year by 6% and in dollar term, these are $32 million, $35 million, and $20 million respectively (Heller, 2014).
Gallagher, Kyle, "Financial Statement Misstatement and Their effects on Investors" (2020). Undergraduate Theses and Capstone Projects. 214.
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