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Cook the books |
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Cook the books To deliberately falsify the financial statements of a company. This is an illegal practice.
Cook the books. When a company cooks the books, it is deliberately -- and illegally -- providing false information about its financial situation to bolster its stock price, often by overstating profits and hiding losses. A company may also cook the books to reduce its tax liability, but then it stirs in the opposite direction by underreporting profits and overstating losses. 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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Deaton's mission would be tricky: Cook the books so that the utility can continue to ratchet up rates and funnel more money into the city's general fund while concealing the waste and bureaucratic decadence that might enrage the public. Of course, it's easy for Rabbi Gross-Schaeffer or me to conclude that Vinson should have quit her job the first time she was asked to cook the books. This isn't an exercise in objectivity: While the authors do believe that at many companies, "option-induced avarice spurred corporate chieftains to cut corners, cook the books and dupe investors into buying shares at inflated prices," they also contend that "most corporations in America would enjoy more motivated workers and larger profits if they embraced partnership capitalism centered around employee stock options. |
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