-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NV/38KRFkTlKXuXk1jyYGYYDdb2lP3IxiLTkzoZ33LcFw4/KGwoO+/2tEGRYED5p iy6C7/uhRHa8gEk3ca6VWw== 0000023082-07-000153.txt : 20070910 0000023082-07-000153.hdr.sgml : 20070910 20070910162531 ACCESSION NUMBER: 0000023082-07-000153 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070910 ITEM INFORMATION: Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review FILED AS OF DATE: 20070910 DATE AS OF CHANGE: 20070910 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMPUTER SCIENCES CORP CENTRAL INDEX KEY: 0000023082 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 952043126 STATE OF INCORPORATION: NV FISCAL YEAR END: 0730 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04850 FILM NUMBER: 071109040 BUSINESS ADDRESS: STREET 1: 2100 E GRAND AVE CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3106150311 MAIL ADDRESS: STREET 1: 2100 EAST GRAND AVE CITY: EL SEGUNDO STATE: CA ZIP: 90245 8-K 1 csc_8-k091007.htm CSC FORM 8-K csc_8-k091007.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C.  20549
 
_________________
 
 
FORM 8-K
 
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
 
Date of Report (Date of earliest event reported) September 10, 2007
 
 
COMPUTER SCIENCES CORPORATION
(Exact name of Registrant as specified in its charter)
 
 
Nevada
1-4850
95-2043126
(State or Other Jurisdiction
(Commission
(I.R.S. Employer
of Incorporation)
File Number)
Identification No.)
 
 
2100 East Grand Avenue
90245
El Segundo, California
(Zip Code)
(Address of Principal Executive Offices)
  
 
 
Registrant’s telephone number, including area code  (310) 615-0311
 
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
 
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
     [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
     [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
     [  ]  Pre-commencement communications pursuant to Rule 14d-(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
     [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
 
 
Item 4.02.
Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
 
(a)
Computer Sciences Corporation (the "Company") has discovered accounting errors for fiscal years 1997 through 2007 that do not qualify under FIN 48 for adjustment to its fiscal 2008 opening balance sheet.  These errors relate to the Company’s accounting for income taxes and for the effect of foreign currency exchange rate movements on certain intracompany accounts.  Although the Company is still completing its assessment of these errors, the Company currently estimates that the corrections in accounting for income taxes could result in a cumulative charge of approximately $200 million.  The Company currently estimates that the corrections in accounting for foreign currency exchange rate movements on certain intracompany accounts could result in a material cumulative gain.
   
 
On September 10, 2007, the Board of Directors concluded that the Company's financial statements included in its previously filed Annual Report on Form 10-K for fiscal year 2007, along with the accompanying report of the Company's independent registered accounting firm, should no longer be relied upon because of errors in such financial statements.  The Board of Directors has discussed these matters with the Company's independent registered accounting firm.
   
 
Upon completion of its assessment of these errors, the Company will file as soon as practicable an amended Annual Report on Form 10-K for the year ended March 30, 2007, which will restate the financial statements previously included therein.  Shortly thereafter, the Company will file its Quarterly Report on Form 10-Q for the quarter ended June 29, 2007.
   
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereto duly authorized.
 
 
COMPUTER SCIENCES CORPORATION
   
   
Dated: September 10, 2007
  By /s/ Donald G. DeBuck                                
 
      Donald G. DeBuck
 
      Vice President and Controller
   
   
   

 
 
 




2
 
 
 
 -----END PRIVACY-ENHANCED MESSAGE-----