Abstract
This chapter presents misleading financial data. The principal objective is to show the student the acceptable methods of manipulating profit, using simple creative accounting techniques. Profit is the term used to show an excess of income over expenditure. The universal acceptability of the word profit gives it respectability. There is a public image of profit that is stimulated by constant media reference to a company's improved profitability record or a catastrophic drop in profits, and the government imposes a tax on profits. The chapter discusses things such as the profit to sales ratio and product profitability. Companies and service industries often refer to individual departments as profit centers to indicate that they should pay their way in the business.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
