Examines aggressive accounting techniques in use of data within & outside organization, benefits & drawbacks, effect on stocks, management approval.
Accounting has been described as the language of business. It provides managers with the tools they need to plan effective and focus attention on deviations from that plan, direct daytoday operations and arrive at the best solution to the operating problems faced by the organization. However, as the language of business, accounting is also used by those outside the organization to make decisions that directly affect the company. If the company is publicly held, this information is used by current and potential shareholders to determine whether management is meeting their expectations. Creditors evaluate the company’s financial statements in order to determine whether or not to extend credit or to call in debt already owed. Potential employees evaluate the financial condition of the company to determine if…
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