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Phantom Profit / LIFO Liquidation |
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Written by Wilfred Ling
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Wednesday, 01 July 2009 |
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When reading financial statements from companies, it is important to look out for clever accounting and manipulation. While not all manipulation can be detected by looking at Income and Balance sheet, many manipulations can be detected through the trained eye. For this short article, I will mention about one "clever" accounting technique call the Phantom Profit through the use of LIFO Liquidation. The article can be read HERE (login required, for clients only).
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