Abstract: This paper pointed out that there were problemsofdelayedrecognition and impreciseness of incurred and reported outstanding claims reserves under thecurrentmanagementmode.
So, having elected to go the company, corporate, route Livingstone faced the choice of, having delayed that income recognition for his own personal tax purposes (it would have been taxed at the lower rate of corporation tax though) he has a choice as to how to extract that income from the company.
Veeco Instruments shares are trading sharply lower this morning after the company disclosed that due to the discovery of a revenue recognition issue, it will be delayed in filing its September quarter 10-Q.