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Accounting scandals are business scandals which arise from intentional manipulation of financial statements with the disclosure of financial misdeeds by trusted executives of corporations or governments. Such misdeeds typically involve complex methods for misusing or misdirecting funds, overstating revenues, understating expenses, overstating ...
The revenue recognition principle is a cornerstone of accrual accounting together with the matching principle. They both determine the accounting period in which revenues and expenses are recognized. [ 1] According to the principle, revenues are recognized when they are realized or realizable, and are earned (usually when goods are transferred ...
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure ...
Profit, in accounting, is an income distributed to the owner in a profitable market production process ( business ). Profit is a measure of profitability which is the owner's major interest in the income-formation process of market production. There are several profit measures in common use. Income formation in market production is always a ...
t. e. An account of profits (sometimes referred to as an accounting for profits or simply an accounting) is a type of equitable remedy most commonly used in cases of breach of fiduciary duty. [ 1] It is an action taken against a defendant to recover the profits taken as a result of the breach of duty, in order to prevent unjust enrichment .
A sale is a transfer of property for money or credit. In double-entry bookkeeping, a sale of merchandise is recorded in the general journal as a debit to cash or accounts receivable and a credit to the sales account. The amount recorded is the actual monetary value of the transaction, not the list price of the merchandise.
A pig butchering scam, a.k.a. " Sha Zhu Pan " [ 2] or Shazhupan, [ 3] ( Chinese: 杀猪盘 ), translated as Killing Pig Plate, [ 1] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme. [ 4]
Creative accounting is a euphemism referring to accounting practices that may follow the letter of the rules of standard accounting practices, but deviate from the spirit of those rules with questionable accounting ethics —specifically distorting results in favor of the "preparers", or the firm that hired the accountant. [ 1]
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related to: kinguin is legit or scam or real property sold for profit meaning in accounting