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Creative Accounting |
Also found in: Wikipedia, Hutchinson | 0.03 sec. |
Creative Accounting The practice of recognizing revenue in a way that makes a company look better than it is while still conforming to the GAAP. Creative accounting seeks to inflate stock prices, for example, by selling assets at the end of a year to create a profit that offsets a loss. One could argue that creative accounting hides a company's true financial state, but, unlike aggressive accounting, creative accounting is generally legal. It is also called financial engineering. See also: Sarbanes-Oxley Act of 2002. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The charge against Yuen
was part of an investigation by the Securities and Exchange Commission
into Gemstar accounting irregularities that accused the LA. stepped down Monday, three months
after accounting irregularities prompted the removal of two other key
executives. pdf),
which found the number of times public companies restated their
financial results due to accounting irregularities rose 145% from
January of 1997 through June of 2002. |
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