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The problem was rectified and trading resumed later the same day.
A May 2005 newspaper article reported that a major hybrid car manufacturer had to install a software fix on 20,000 vehicles due to problems with invalid engine warning lights and occasional stalling. In the article, an automative software specialist indicated that the automobile industry spends $2 billion to $3 billion per year fixing software problems.
Media reports in January of 2005 detailed severe problems with a $170 million high-profile U.S. government IT systems project. Software testing was one of the five major problem areas according to a report of the commission reviewing the project...
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Common topics in this essay:
- The ISAB argues that the accruals and going concern concepts are key underlying assumption in the preparation of financial statements. Discuss the problems for companies in applying these accounting concepts and explain why other concepts might al...
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