The financial numbers game detecting creative accounting practices phần 6 ppsx

... acquisition costs equal to the differencebetween the fair value of the Company’s common stock on the date the warrants are issuedand the exercise price of the warrants of $0.01. The amount of deferred ... lingering on the books from the 19 86 merger of Burroughs Corp. and Sperry Corp.that created Unisys.4 The four examples identified in the opening quotes capture the essence of the potentialfor accounting ... paid-in capital for$400,2 46, 458 the difference between the market value of its stock and the $0.01 exer-cise price of the warrants issued to its partners. At the same time, the company netteddeferred...

The financial numbers game detecting creative accounting practices phần 10 ppsx

... 194– 96 goods ordered but not shipped, 160 , 161 goods shipped but not ordered, 161 , 162 nonexistent sales, 162 , 163 policy of company, understanding, 1 86 87premature, 9, 10, 66 , 69 , 70, 160 , 161 , ... of, 85examples of, 67 expense recognition, 66 , 68 generally, 62 , 66 proof of, 64 revenue recognition, 66 SEC actions against, 85big bath, 33, 94characterization of, 82, 85, 86 cookie jar reserves. ... Staff Accounting Bulletin, 99, 100, 101software revenue, 22, 23when to recognize, 165 68 Rewards of creative accounting bonus plan effects, 6, 7borrowing cost effects, 5, 6 financial numbers game, ...

The financial numbers game detecting creative accounting practices phần 1 pps

... those who seek to play this financial numbers game. The Financial Numbers Game: Detecting Creative Accounting Practices was written,first and foremost, to help readers of financial statements avoid ... 40%15• Given the various creative accounting practices that can be used to play the financial numbers game, a classification scheme was devised to facilitate their discovery. The scheme has ... currently. Creative Accounting Practices Any and all steps used to play the financial numbers game, in-cluding the aggressive choice and application of accounting principles, both within and beyondthe...

The financial numbers game detecting creative accounting practices phần 2 pps

... up after the financial numbers game. As seen in the exhibit, the appropriate adjustment depends on whether achange in accounting estimate or principle is needed or whether prior-year financial statements ... the accounting practices at CUC. 69 CLEANING UP AFTER THE GAME At some point, after reported financial results and position have been pushed to the boundaries of GAAP, or beyond, by either the ... 1990). 62 . M. Stevens, The Big Six: The Selling Out of America’s Top Accounting Firms (New York:Simon & Schuster, 1991), pp. 28–29. 63 . The Wall Street Journal, January 6, 2000, p. A1. 64 . Accounting...

The financial numbers game detecting creative accounting practices phần 3 docx

... at the expense of shareholders. Further, if the earnings managementactivities are abusive, then there may be a material misstatement of financial perfor-mance. Others who rely on the firm’s financial ... with these offerings. Rather, the performance of these issues suggests a possible overpricing upon issuance of the sharesfollowed by underperformance of the shares in subsequent periods. 66 The ... five account-ing practices to control their reported financial results and position. The first three ofthese accounting practices, big bath charges, creative acquisition accounting, and cookiejar...

The financial numbers game detecting creative accounting practices phần 4 ppt

... of the last day of the quarter, and thus some or all of the unfinished product was packaged and shipped after the close of the fiscal quarter. 56 The SEC maintained that the manner in which these ... MulfordCallaway Professor of Accounting Invesco Professor of Accounting Source: Financial Numbers Game Survey139potentially fraudulent actions if they are presented to them. Whether such actions actu-ally ... (NewYork: Accounting Principles Board, 1 962 ). 46. APB Opinion No. 4 (Amending No. 2), Accounting for the “Investment Credit” (New York: Accounting Principles Board, March 1 964 ).47. SFAS No. 19, Financial...

The financial numbers game detecting creative accounting practices phần 5 pptx

... receive on the loans above the amounts funded on the loans over (2) the present value of the interest they had agreed topay the buyers of the loan-backed securities. When properly executed, there ... of a 60 -unit order. The sale comprised 28% of the company’s revenue for the quarter. Bill-and-hold accounting treatment was used as the goods were not shipped at the time of recognition. The bill-and-hold ... to its investors. At the time of sale, the company would use gain-on-sale accounting. It would record as profit the excess of (1) the sales price and the presentvalue of the estimated interest...

The financial numbers game detecting creative accounting practices phần 7 doc

... March 2001. 60 . Statement of Financial Accounting Standards No. 121, Accounting for the Impairment ofLong-Lived Assets (Norwalk, CT: Financial Accounting Standards Board, March 1995). 61 . The Wall ... occasions, companies that play the financial numbers game will overstate the value of assets received for the issue of stock. While bypassing the income statement, the net effect is still an increase ... forecasts for the quarter by two cents per share.53As with IBM, the timing of the sale was presumably a function of factors other than making Wall Street’s estimates.Nonetheless, the sale and the method...

The financial numbers game detecting creative accounting practices phần 8 doc

... net income, the financial numbers game can involve the creative movement of items between income statement classifications.As the focus of users has moved away from the bottom line, these alternative ... statement is the premier playground for those who engage in the financial numbers game. The goal of this chapter has been to outline the key features of the GAAP-basis income statement. Then, based ... item. The ADM“Other expense” note is presented in Exhibit 9.13.Given the size of the numbers in the ADM income statement—year 2000 net incomeof $301 million the $ 26 million decrease in “Other...

The financial numbers game detecting creative accounting practices phần 9 doc

... managementis running the shop.4 The previous chapter laid out the GAAP requirements surrounding the income statementand also outlined how the financial numbers game could be played by creative classifi-cations ... computation of these pro-formameasures is considered along with their motivation, characterization, and disclosure.Their role in the financial numbers game is also explored.RECASTING THE BOTTOM ... items, the scope of Corning’s restatement is rather limited. The range of adjustments made to GAAP net income is greater in the case of some of the otherpro-forma measures of performance. These...

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