National Education Corp.: The firm said Wednesday...
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National Education Corp.: The firm said Wednesday that it may delay reporting its fiscal 1994 results pending discussions on cost-accounting procedures with the Securities and Exchange Commission.
The Irvine-based education and training company said that it filed with the SEC to support its interpretation of certain accounting provisions on reporting of advertising costs.
But the company said the SEC may conclude that a more restrictive interpretation of those procedures is preferable, which would require National Education to expense the majority of its advertising and promotion costs as they are incurred.
National Education said the resolution of the issues will have no effect on cash flow. But the company said it will not file its year-end report until the matter is resolved, which it expects by March 31.
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