COOKING THE BOOKS Definition

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COOKING THE BOOKS is when a company fraudulently misrepresents the financial condition of a company by providing false or misleading information.

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REVENUE RECOGNITION is the process of recording revenue, under one of the various acceptable methods, in the accounting period. In each period of revenue recognition, all related expenses should be matched to revenue. The most common method of recognizing revenue is at the time of sale or provisioning of service.

NEUTRALITY, in an economic model, is where money is said to be neutral in the model if changes in the level of nominal money have no effect on the real equilibrium.

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