Another Day, Another Math Problem

While smaller companies aren't required to certify their financial results with the Securities and Exchange Commission Wednesday, recent disclosures from some of these firms suggest they are taking that edict and the new securities laws seriously.

Generic drugmaker Andrx(ADRX Quote), for example, came clean Tuesday about accounting irregularities that took place over the last three years. During a conference call with analysts, the company said a low-level manager altered records pertaining to its accounts receivable, or money owed and not collected, by up to $15 million since January 1999.

Shares of Andrx fell $2.78, or 12%, to $20.54 Tuesday. ...