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Home > Accounting > Question

What is Financial Statement Manipulation called:

0
A) Financial Analysis
B) Creative Accounting
C) Budgeting
D) Financial Reporting

Correct Answer: B) Creative Accounting

• The unethical manipulation of financial numbers to falsely improve corporate appearance is heavily known as Creative Accounting. • While often exploiting legal loopholes, highly aggressive creative accounting frequently leads to massive Corporate fraud. • The infamous Enron scandal in 2001 was a massive historical result of extremely deceptive Accounting practices. • Standardized rules like GAAP are strictly implemented to entirely prevent such Manipulation. • The legitimate process of structurally planning future financial corporate expenses is called Budgeting.

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