IF you are in accounting, especially if you are in regulatory compliance accounting, or going into it, you NEED to know about a book named “Financial Shenanigans”.
I’m not intellectually-equal to it ( or to accounting, for that matter: psychology’s much easier to crack, for me ), but it is THE most important book for forensic-accountants to know.
The bullshit that they’ve been pulling, where “Between 2017 and 2021, Amazon had more than $25 billion in losses from its devices business, according to the documents. The losses for the years before and after that period couldn’t be determined.” didn’t produce criminal consequences…
You’ve got to be kidding, right?
Individual human goes to jail or prison for $2k tax fraud, but … big tech gets a free pass on that kind of “accounting”??
couldn’t be determined??
Either run a tight-ship or don’t be surprised when it sinks.
Economies are the “ships” that carry our countries, & have to be properly regulated, exactly as a tightly-regulated ship has to be, to keep it afloat longer.
It isn’t the sloppy mechanic-racers who win NASCAR, it is the ones who control everything correctly, with total right-regulation.
I remember when I’d read that Cisco switched to closing their books out daily, so as to always know the exact position of the company…
what an incredible degree of financial-operations integrity that was…
Anyways, “Financial Shenanigans” is THE book to dig into, if you want to know if the business you’re considering investing in is cooking the books… and you’re capable of understanding that stuff at the level it’s speaking…