Creative Accounting .

• Creative Accounting

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Corporate governance Financial reporting and the independent auditor

1 The potential exercise of this choice to improve apparent performance

(see creative accounting and earnings management) increases the

information risk for users


Creativity - Creativity in other professions

1 Accounting has also been associated with creativity with the popular

euphemism creative accounting. Although this term often implies unethical practices, Amabile has

suggested that even this profession can benefit from the (ethical)

application of creative thinking.


Index of ethics articles - C

1 * creative accounting


Business ethics - Other issues

1 Oxford: Blackwell ISBN 0-631-22123-9 Particular corporate ethical/legal

abuses include: creative accounting, earnings management, misleading financial analysis, insider trading, securities fraud, bribery/kickbacks

and facilitation payments


National Broadband Network - Customer uptake

1 NBN Co's stated their usage of premises passed was an accepted industry definition. However, their corporate plan defined premises

passed as places where NBN services may be ordered and purchased, causing NBN Co to be accused of

'creative accounting'.


Creative accounting

1 'Creative accounting' is a euphemism referring to accounting practices that may follow the letter of the rules of standard

accounting practices, but certainly deviate from the spirit of those rules. They are

characterized by excessive complication and the use of novel ways of characterizing

income, assets, or liabilities and the intent to influence readers towards the interpretations desired by the authors. The terms innovative

or aggressive are also sometimes used.


Creative accounting

1 The term as generally understood refers to systematic fraud|misrepresentation of the true income and assets of corporations or

other organizations. creativity|Creative accounting is at the root of a number of

accounting scandals, and many proposals for accounting reform– usually centering on an updated analysis of capital (economics)|capital and factors of production that would

correctly reflect how value is added.


Creative accounting

1 According to critic David Ehrenstein, the term Creative Accounting was first used in 1968 in the film The

Producers (1968 film)|The Producers by Mel

Brooks.[http://www.criterion.com/current/posts/918-the-producers The

Producers - From the Current - The Criterion Collection]


Creative accounting - Earnings management

1 Creative accounting can be used to manage

earnings


History of CP/CMS - Historical notes

1 * 'CSC financial resources:' Rasmussen used creative accounting to fund the creation of

CP-40


Rensselaer Lake - History

1 This sale was criticized as being a Creative accounting|fiscal trick,

shifting some of the tax burden from residents' property tax bills to their

water bills


Accounting scandals

1 In public companies, this type of creative accounting can amount to

fraud, and investigations are typically launched by government Regulation|oversight agencies, such as the U.S.

Securities and Exchange Commission|Securities and Exchange

Commission (SEC) in the United States.


Richard M. Scrushy - Birmingham criminal trial

1 In the indictment, Scrushy was accused of using intimidation, threats, and cash payments to

coerce top executives into committing fraud.#Mar05|Markham

2005: 361 These top executives called themselves The

Family#Mat06|Matulich 2008: 349 and referred to their creative accounting as filling the gap


Tone at the top - The Enron scandal

1 Executives at Enron used Creative accounting|accounting loopholes,

special purpose entities, and misleading financial reporting to hide billions in debt from failed deals and

projects


Savings and loan crisis

1 Rather than admit to insolvency, some CEOs of SLs became reactive control frauds by inventing creative accounting strategies that turned

their businesses into Ponzi schemes that looked highly profitable, thereby

attracting more investors and growing rapidly, while actually losing

money


Surplus value - Complicating factors in assessing surplus-value

1 *creative accounting and tax avoidance or evasion techniques

which misrepresent how much value has really been created.


Accounting ethics - Accounting scandals

1 The scandals were the result of creative accounting, misleading

financial analysis, as well as bribery


Tendency of the rate of profit to fall - Further controversy

1 Indeed, revaluing inventory is an often-used technique in creative

accounting to help produce the profit figure that is most desirable for the

enterprise


European sovereign-debt crisis - Manipulated debt and deficit statistics

1 This added a new dimension in the world financial turmoil, as the issues

of creative accounting and manipulation of statistics by several nations came into focus, potentially undermining investor confidence.


One share, one vote - Financial reporting and the independent auditor

1 The potential exercise of this choice to improve apparent performance

(see creative accounting and earnings management) increases the

information risk for users


List of accounting topics - C

1 - Creative accounting


Executive pay in the United States - Studies and critics

1 In European and other countries, unlike America, options depend on a

company outperforming others within the same industry, and there

are fewer short term options to capitalize on short term profit boosts from job cuts, restructuring, and/or

creative accounting.Hacker, Jacob S., Paul Pierson, Winner-Take-All Politics,

(Simon Schuster, 2010) p.246https://store.theartofservice.com/the-creative-accounting-toolkit.html

Critical accounting policy

1 One of the key reasons many investors and analysts pay attention to critical accounting policies, is that their subjective nature is believed to be more ripe for abuse by creative accounting, especially slush fund

accounting


Consumption of fixed capital - Valuation

1 Furthermore, businesses might engage in creative accounting and deliberately state their assets and liabilities held at a balance date, or interpret the figures in some other

way, to increase the amount of depreciation write-offs, and thus

boost their income (how this is done will depend a lot on tax law).


Lynda Carter - Wonder Woman

1 It's called Hollywood accounting|creative

accounting.


Stability and Growth Pact - Criticism

1 This is amply evidenced by the “creative accounting” gimmickry

used by many countries to achieve the required deficit to GDP ratio of 3

percent, and by the immediate abandonment of fiscal prudence by

some countries as soon as they were included in the euro club


John Birt, Baron Birt - BBC career

1 In-house facilities were closed or stood idle, allegedly as a result of

Birt's creative accounting methods.


List of Arrested Development minor characters - George Bluth, Sr.

1 He was the original CEO of the Bluth Company, which he founded;

however, after years of creative accounting practices, he became the subject of an investigation by the U.S


Hollywood accounting

1 'Hollywood accounting' (also known as Hollywood bookkeeping) refers to the opaque or

creative accounting accounting methods|methods used by the film, video and television industry to budget and record profits for film

projects. Expenditures can be inflated to reduce or eliminate the reported Profit (accounting)|

profit of the project, thereby reducing the amount which the corporation must pay in

royalties or other profit-sharing agreements, as these are based on the net profit.


Hollywood accounting - Practices

1 It's called 'creative accounting'.The Late Show (1986 TV series)|The Late Show with Joan

Rivers


Hollywood accounting - Examples

1 Michael Moore sued Bob Weinstein|Bob and Harvey Weinstein for

creative accounting to deprive him of his share of profits for the film

Fahrenheit 9/11


Tim Witherspoon - Second Title Reign

1 Witherspoon's second reign as a Heavyweight champion saw him travel to

London, England and defend his title against Frank Bruno in front of 60,000 fans.

Witherspoon came from behind to stop Bruno in the 11th, retaining his title. After

the fight, Bruno received one million pounds sterling from his promoters. Witherspoon, due the same amount, received less than

$100,000 after Don King's creative accounting and deductions.


Orrin Keepnews - Biography

1 During this period, Grauer concentrated on business affairs,

which ultimately proved to be marred by creative accounting


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Creative Accounting .

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