The financial numbers game detecting creative accounting practices phần 1 pps

... falling 15 % and revived Wall Street’s questions about the company’s performance. 11 Every one of the above examples entails, in one form or another, participation in the financial numbers game. The game ... 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 ... Co., October 31, 19 97, 19 98, and 19 99 (thousands of dollars) 19 97 19 98 19 99Finished goods $ 43,5 71 $ 35,645 $ 36,248Goods in process 28,8 81 32,730 30,768Raw materials 11 ,879 20,676 13 ,200Supplies...

The financial numbers game detecting creative accounting practices phần 2 pps

... February 1, 19 96).65. California Micro Devices Corp. 10 -K annual report to the Securities and Exchange Com-mission, March 19 96, p. 13 .66. The Wall Street Journal, August 13 , 19 98, p. A1.How the Game ... $15 3 Nov. 19 98 $94Selsius Systems, Inc. $13 4 Nov. 19 98 $92PipeLinks, Inc. $11 8 Dec. 19 98 $99Amteva Technologies, Inc. $15 9 June 19 99 $ 81 Source: Cisco Systems, Inc., annual report, July 19 99, ... 14 , 2000), p. 10 11. 31. The Wall Street Journal, November 6, 19 94, p. A1.32. General Electric Co., Form 10 -K annual report to the Securities and Exchange Commission,December 19 97, p. F-25.33....

The financial numbers game detecting creative accounting practices phần 6 ppsx

... 2000).9. The Wall Street Journal, May 27, 19 98, p. A10. 10 . Ibid., December 23, 19 98, p. C1. 11 . Ibid., August 22, 2000, p. B 11. 12 . Ibid., January 6, 2000, A1. 13 . Ibid., January 30, 19 97, p. ... Severance Other TotalRestructuring charge $ 10 , 217 $ 3,200 $ 5 ,17 3 $ 4,822 $ 23, 412 Charges to the reserve and assets written off (10 , 217 ) — (1, 3 21) (2 ,19 7) (13 ,735)Balance at June 28, 19 98 — ... 9,677Charges to the reserve — (927) (5,039) (2 ,11 1) (8,077)Reserve adjustments — (673) 1, 187 ( 514 ) —Balance at July 2, 19 99 — 1, 600 — — 1, 600Charges to the reserve — ( 219 ) — — ( 219 )Balance at...

The financial numbers game detecting creative accounting practices phần 10 ppsx

... 51 earnings management cases, 62, 63enforcement activities, 68, 10 1–3antifraud provisions, 11 2 14 criminal prosecution, 11 6, 11 7examples, 11 4, 11 5 financial reporting and disclosure, 10 9 11 GAAP, ... of, 11 1, 11 2generally, 10 9penalties, 11 6 19 Securities Acts, provisions of, 10 8, 10 9fraudulent financial reportingenforcement, 10 1, 10 2investigations, 42jurisdiction over, 42glossary, 12 2, ... labeling as, 16 4, 16 5generally, 95, 96, 15 9, 16 0, 19 3, 19 4glossary, 19 4–96goods ordered but not shipped, 16 0, 16 1goods shipped but not ordered, 16 1, 16 2nonexistent sales, 16 2, 16 3policy of...

The financial numbers game detecting creative accounting practices phần 3 docx

... corporations with the same brush, unfairly so.”30Asanother member of the FEI noted, The SEC shouldn’t punish the whole financial com-munity for the sins of a few.” 31 Another agrees, stating “They’re ... 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 ... minutesTHEFINANCIALNUMBERSGAME94 creative accounting practices being reported on here, a review of the problems the SECsees with financial reporting and the new directions it is taking was deemed necessary.Five Creative Accounting...

The financial numbers game detecting creative accounting practices phần 4 ppt

... 13 (b)(2)(B) (19 34).39. Ibid., Rule 12 b-20 (19 34).40. Ibid., Rule 13 b2 -1 (19 34). 41. Ibid., Rule 13 a -1 (19 34).42. Ibid., Rule 13 a -13 (19 34).43. Ibid., 13 (b)(2)(B)ii (19 34).44. SFAS No. 13 3, ... Securities Act of 19 33 and Sections 10 (b), 13 (a), 13 (b)(2)(A), and 13 (b)(2)(B) and Rules 10 b-5, 12 b-20, 13 a -1, and 13 a -13 of the 19 34Act. At the time of this writing, these and other charges had ... officers 30 16 Security analysts 24 12 Lenders 21 11 Certified public accountants 21 11 Advanced MBA students 36 19 —– —–Total 19 1 10 0THEFINANCIALNUMBERSGAMEExhibit 5.3 Survey Items on the...

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 ... sale.39Compounding the problem, however, was the fact that, based on our reading of the company’s 10 -Kannual report filing with the SEC for the year ended March 31, 19 96, the related-partytransaction ... Transportation reported thatit had flown 12 0 flights in 19 80, 12 during the first three quarters and 10 9 during the fourth quarter, a next-to-impossible feat given the size of the company’s fleet. 75In...

The financial numbers game detecting creative accounting practices phần 7 doc

... 12 1, Accounting for the Impairment ofLong-Lived Assets (Norwalk, CT: Financial Accounting Standards Board, March 19 95). 61. The Wall Street Journal, September 30, 19 96, p. B5 and May 18 , 19 98, ... October 1, 19 98, from the category “available forsale” to “held to maturity.” The related unrealized gain of $1. 1 billion as of October 1, 19 98, on these securities is being amortized from other ... 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...

The financial numbers game detecting creative accounting practices phần 8 doc

... 5,769 10 ,070 15 ,352———– ———– ———–Operating income 907 1, 780 744Gain on sale of Monroc, Inc. stock 2 ,10 2 — —Gain on land sale 827 — —Interest income 18 1 17 3 60Other income 11 4 15 3 2 21 Interest ... December 31, 19 98, 19 99, and 2000 (thousands of dollars) 19 98 19 99 2000Revenues:Oil and gas sales $35,624 $37 ,14 0 $56, 310 Interest and other 2,094 1, 853 1, 767———– ———– ———–Total revenues 37, 718 ... ————–$ (11 0,256) $ (11 1 ,12 1) $ (13 6,980)———–— ————– ————–———–— ————– ————–Source: Archer Daniels Midland Company, Annual Report, June 30, 2000, p. 31. 309statement users would be to ignore the...

The financial numbers game detecting creative accounting practices phần 9 doc

... for the year ending December 31, 2000, to the extent that they are in the 20 01 interim earningsreleases. The high profile of the pro-forma results in the earnings release may be due to the fact ... 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 ... DisclosuresC. R. Bard, Inc. (19 99) In 19 99, Bard reported net income of $11 8 .1 million, or diluted earnings per share of $2.28.Excluding the impact of the after-tax gain on the sale of the cardiopulmonary...

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