Accounting woes loom over AOL
C|Net | at | by Mike
AOL Time Warner said it will update Wall Street analysts on an internal investigation of accounting practices at its troubled America Online unit when it reports third-quarter earnings Wednesday. On Monday, two former executives at AOL advertiser Homestore.com pleaded guilty to inflating revenue at the online real estate listing company by $46.4 million in 2001. It is so far unclear whether those transactions are related to any accounting irregularities at AOL. The accounting investigation comes as AOL Time Warner is bracing for its latest tough quarter due to a steep decline in advertising and e-commerce revenue at its online unit