TOPSIDE ACCOUNTING ADJUSTMENTS/DEVICES Definition

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TOPSIDE ACCOUNTING ADJUSTMENTS/DEVICES is an illegal practice to where accountants manipulate its accounting practices to close gaps between actual operating results and results reported to the investing public. Accountants then falsely represent to the public that their audits were conducted in accordance with generally accepted auditing standards (GAAS) and that an entitys financial reports fairly represent the entitys financial condition and were prepared in accordance with generally accepted accounting principles (GAAP).

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SUBJECT TO, in accounting, was a type of qualified audit opinion that was worded "In our opinion, subject to....." Auditors are no longer permitted to issue such opinions.

LOMBARD RATE is the rate at which the Bundesbank, the German central bank, lends funds to banks as short-term credit. It is normally at least one percentage point above the discount rate and is regarded as an important international indicator.

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