Professor Karen Brenner weighs in on Under Armour’s accounting practices
— July 28, 2020
Excerpt from Retail Dive -- "'If the goods are coming back, but you get to make the sale in the quarter and the return is in the next and you book the return and hope people don't recognize it, that's troubling,' Karen Brenner, executive director of law and business at New York University's Stern School of Business, said at the time. 'If a customer says, 'Sure, I'll take the good. I want you to agree that if I don't sell X amount in Y period of time, you'll give me some credit against it,' that may be a legitimate business decision that's correctly booked. So it really depends upon the facts and circumstances surrounding the transactions and that's what the investigation will unearth.'"