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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UNREALIZED LOSS is a term that commonly refers to the write-down of an investment portfolio resulting from applying the lower of cost or market value on an aggregate basis. On a short-term portfolio, the unrealized loss is shown on the income statement. On a long-term portfolio, the unrealized loss is presented as a separate item in the stockholders equity section of the balance sheet.

REQUISITION is a written request to buy something. Usually, once approved, the requisition is then transformed into a purchase order.

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