Cook the books is a slang term for using accounting tricks to make a company’s financial results look better than they really are. Typically, cooking the books involves manipulating financial data to inflate a company’s revenue and deflate its expenses in order to pump up its earnings or profit.
Where does the phrase cooking the books come from?
The term cooking the books is based in an old secondary definition of the word cook, which is to present something that has been altered in an underhanded way. By the mid-1800s the term cooking the books had come into use to mean manipulating financial records in order to deceive.
Is cooking the books illegal?
Cooking the Books is when a company fraudulently misrepresents the financial condition of a company by providing false or misleading information. It is illegal and punishable.
What does cooking mean in slang?
old-fashioned slang. used to ask about what is happening or what someone is planning: Hi there!
What does the phrase on the books mean?
On the books means “part of the law”.
Why do companies cook the books?
Cooks the book is used to describe that the fraudulent activities performed by the corporations for falsifying their financial statements and therefore, as a means to distort financial accounts of the firm deliberately for avoiding the tax payments or hiding of the facts so that the situation of the company seems …
What does do a bunk mean?
British, informal. : to leave a place suddenly and without telling anyone They did a bunk to avoid paying the rent.
How do you manipulate profit?
There are two general approaches to manipulating financial statements. The first is to exaggerate current period earnings on the income statement by artificially inflating revenue and gains, or by deflating current period expenses.
What are the 4 basic financial statements?
There are four main financial statements. They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders’ equity. Balance sheets show what a company owns and what it owes at a fixed point in time.
How did Worldcom cook the books?
Cooking the Books
By capitalizing expenses, it exaggerated profits by around $3 billion in 2001 and $797 million in Q1 2002, reporting a profit of $1.4 billion instead of a net loss.
What’s cooking good looking?
The actual meaning of this phrase would depend on the context it is used in. What’s cooking – is generally used to ask ‘What is going on’, or ‘What are you doing’. Good Looking – is obviously a compliment to a person, or expresses a desire for something.
What does Kook mean?
: one whose ideas or actions are eccentric, fantastic, or insane : screwball.
What does present mean?
1 : now existing or in progress. 2a : being in view or at hand. b : existing in something mentioned or under consideration. 3 : constituting the one actually involved, at hand, or being considered. 4 : of, relating to, or constituting a verb tense that is expressive of present time or the time of speaking.
What does another day in the books mean?
(idiomatic) Finished; concluded; able to be regarded as a matter of record.
Do you say on the books or in the books?
“In the books” means finished, as in “Well, that’s another great season in the books.” “On the books” means officially recorded, as in “That’s the hottest day on the books.”
What is the meaning of good books?
Meaning: be in somebody’s favour or good opinion. Example: The fact that he always managed to be in the good books of the bosses surprised one and all.