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Charlotte Russe Comments on Lease Accounting Practices.
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PR Newswire
- Article date:
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March 3, 2005
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Copyright informationCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Charlotte Russe Holding, Inc. announced today that as a result of recent SEC guidance regarding lease accounting principles it has reviewed its lease accounting practices. The clarification by the SEC's Chief Accountant has led numerous retailers to announce adjustments to and restatements of previously issued audited financial statements.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030602/CHICLOGO )
Similar to most other retail companies, Charlotte Russe has consistently applied landlord-funded construction allowances as a reduction to leasehold improvements on its balance sheet and has consistently calculated deferred rent expense in accordance with the ...
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