The financial numbers game detecting creative accounting practices phần 10 ppsx

... it is recommended that the analyst review carefully the ratios outlined in Chap-ter 8 and consider the implications for creative accounting practices detailed there. The limited exceptions where ... Staff Accounting Bulletin, 99, 100 , 101 software revenue, 22, 23when to recognize, 165–68Rewards of creative accounting bonus plan effects, 6, 7borrowing cost effects, 5, 6 financial numbers game, ... creating differing financial reporting practices. While consensus views of the EITF do not have the same authoritative support as accounting standards promul-gated by the FASB, they nonetheless are...

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 ... Inc.:Amortization LivesGoodwill 5 10 yearsOther Intangibles 5 10 years57From the annual report of LSI Logic Corp.:. . . the excess of the purchase price over the fair value of assets acquired ... when the inventoryis purchased. Rather, those costs are charged to expense when the inventory is sold. Thatway the cost of the inventory and the revenue generated by its sale are reported on the income...

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

... by the accounting practices at CUC.69CLEANING 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 ... direction or another.FRAUDULENT FINANCIAL REPORTINGIn the majority of cases in which the financial numbers game is played, accounting pol-icy choice and application simply fall within the range ... amortized over the shorter of the related contract life or the term of the license or permit.52 The company capitalized these costs as opposed to expensing them on the premisethat the costs incurred...

The financial numbers game detecting creative accounting practices phần 3 docx

... bank-ruptcy.34 Financial statements must be included with Forms 10- K and 10- Q, and in Form 10- K the financial statements must be audited. As with the registration statement, Form 10- K must be signed by the ... 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

... 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 ... 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 ... provides details of the problems the SEC sees with the current reportingenvironment, identifies what the commission is doing about these problems, and dis-cusses the tools available to the commission...

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 ... made in the chapter, based on the survey, include the fol-lowing:• Financial professionals are generally in agreement on when earnings managementcrosses the line between the exercise of the legitimate ... 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

... 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 ... 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 Street...

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 ... nonrecur-ring—items offset each other, then the absence of a line-item change will reduce the like-lihood of a search for the composition of the line item. The other income and expense note of The Sherwin-Williams...

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 ... for the year ending December 31, 2000, to the extent that they are in the 2001 interim earningsreleases. The high profile of the pro-forma results in the earnings release may be due to the fact ... 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...

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