1440766_财务会计：会计预警信号-accounting red flags

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1、Accounting:FocusontheRedFlagsWrittenbyRichardM.RockwoodMay2002©Copyright2002,FocusInvestor.com.Allrightsreserved.Thismaterialisforpersonaluseonly.ItisaviolationoffederalcopyrightlawtoreproducepartorallofthispublicationwithoutwrittenpermissionfromFocusInves

2、tor.com.Thegoalofthisshortarticleistoshowtheinvestorexamplesofhowcompaniescanmanipulatetheirreportedearnings.Thisarticlealsoprovidesinformationonwhatwarningssignstolookfor.Thearticlehastakeninformationfromavarietyofsourcesinordertoprovidethereaderwithaquic

3、koverviewofaccountingredflags.Focusedinvestorspracticingportfolioconcentrationshouldbeparticularlyawareoftheseissues.Ihavewrittenthearticlefortheindividualinvestorwhohasanintermediatelevelofaccountingknowledge.ThatbeingsaidIbelievethebeginninginvestorwitho

4、nlyamoderateunderstandingofaccountingwillbenefitfromaclosereadingofthisarticleiffornootherreasonthattounderstandwhatelementsofaccountingtheyshouldstudymoreclosely.Whilethisarticlefocusesonaccountingissuesallinvestorsshouldinvestigatethemanagementteamofacom

5、panybeforeinvestingsincethemanagementteamhassuchastronginfluenceofanycompaniesoperationsandhowtheyreporttheirresults.TothisendIwouldstronglyurgeallinvestorstofirststudythewaymanagementtreatstheirshareholders.Dotheyprovideanaccuratepictureoftheirbusinessint

6、heirannualreport?Dotheydiscussthenegativeissuesinadditiontothepositiveones?Iftheytreattheshareholderslikeownersandbehaveethicallytheninthevastmajorityofcasesthisaccountingredflaglistwillnotbeneeded.ListofAccountingRedFlags1.CompaniesConductingLargeAmountso

7、fMergerActivityCompaniesthathaveexperiencedaslowdowninthegrowthoftheirbusinessesorthathavealreadybeenpracticingaccountingdeceptionsmayusemergeractivitytomasktheslowdownintheircorebusinessand/orusetheactivitytotheiradvantagebyattemptingtomaskongoingaccounti

8、ngdeceptions.Inthecaseofongoingaccountingdeceptionsmanagementwilloftentrytocontinuetheirdeceptionsbyinitiatinganaggressiveacquisitionstrategy.Theresultingrestructuringchargestakenasaresultoftheacquisitionscan