Financial Shenanigans, Fourth Edition: How to Detect Accounting Gimmicks & Fraud in Financial Reports by Howard M. Schilit & Jeremy Perler & Yoni Engelhart

Author:Howard M. Schilit & Jeremy Perler & Yoni Engelhart [Schilit, Howard M.]
Language: eng
Format: azw3
Publisher: McGraw-Hill Education
Published: 2018-03-29T16:00:00+00:00

2. Boosting CFFO by Selling Receivables Before the Collection Date

In the previous section, we discussed how Delphi and Enron created dangerous schemes in their Twins genetics labs that allowed them to record completely bogus cash flow from operations. In this section, we discuss how companies might boost CFFO with a transaction that is quite popular and considered completely appropriate: selling accounts receivable. However, the way management presents these transactions on its financial statements often leads to a great deal of confusion for investors.

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