The logo of U.S. conglomerate General Electric is pictured at the company’s site in Belfort, April 27, 2014. REUTERS/Vincent Kessler
General Electric said on Wednesday that it planned to provide restated results for 2016 and 2017 to reflect a new accounting standard by April 13.
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The updated accounting standard takes into account revenue from long-term contracts, which are being scrutinized by the U.S. Securities and Exchange Commission.
GE had said in February that it expected to take a $4.2 billion accounting charge as it switches to the new standard.
The company also said it would report its first-quarter earnings on April 20 under the new standard and that it would have no impact on its 2018 forecast.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D’Silva)
