Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. according to the sec, “[a]s part of the cover up

According to the SEC, “[A]s part of the cover up, Peregrine personnel wrote off millions of...

50.1K

Verified Solution

Question

Accounting

According to the SEC, “[A]s part of the cover up, Peregrinepersonnel wrote off millions of dollars in uncollectible—primarilysham—receivables, to acquisition-related accounts” (LR 18205A).

1. Explain how this would affect the signal of CFFO lagging, orfalling behind, operating income that would normally indicate anoverstatement of revenue.

2. Explain how the improper write-off of accounts receivable as“acquisition costs” would affect the signal of accounts receivableincreasing as a percentage of sales.

Answer & Explanation Solved by verified expert
3.8 Ratings (712 Votes)
1 Explain how this would affect the signal of CFFO lagging or falling behind operating income that would normally indicate an overstatement of revenue Answer Write off of accounts receivable occurs    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

In clinical chemistry, explain what Pyridoxal-5’-Phosphate is, and how does it work?

Economics
1.2K views

financial impact of credit card on international students in canada

Programming
1.2K views

IN C LANGUAGE ONLY PLEASE! First Program: create branchloop.c file Content of the program Enter your name while running...

Statistics
1.2K views

Many people purchase SUV because they think they are sturdier and hence safer than regular cars....

Basic Math
1.2K views

List the characteristics of a multinomial experiment. (Select all that apply.) The number of successes is evenly...

Accounting
1.2K views

Heidi Birmingham and James T. Roberts have decided to create a business. They have financing available...

Biology
1.2K views

The only certain cause of a HPPD b PCP disorder Oc opioid use disorder d...

Physics
1.2K views

A beam of electrons after being accelerated through a potential difference of 100 volts enters...

Basic Math
1.2K views

A car dealership wants to try out a new leasing arrangement, which will allow a...

Accounting
1.2K views

beacon company is considering two different, mutually exclusive capital expenditure proposals. project a will cost...

Accounting
1.2K views

Is there a journal entry you need to record for consolidated net income

Accounting
1.2K views

A company incurred $85,000 of direct labor in its Roasting Department. The journal entry to...