| 单词 | creative accounting |
| 释义 | creative accounting creative accounting Misleadingly optimistic, though not illegal, forms of accounting. This can occur because there are a number of accounting transactions that are not subject to regulations or the regulations are ambiguous. Companies sometimes make use of these ambiguities in order to present their financial results in the best light possible (so-called window dressing). In particular, companies often wish to demonstrate increasing accounting profits and a strong balance sheet. Two examples of transactions that have permitted creative accounting are those involving consignment stocks and repurchase agreements. In these contexts, creative accounting involves the separation of legal title from the risks and rewards of the activities, the linking of several transactions to make it difficult to determine the commercial effect of each transaction, or the inclusion in an agreement of options, which are likely to be exercised. In the 1990s and 2000s a series of scandals raised the profile of issues such as corporate governance and the responsibilities of auditors, leading governments and standard-setting bodies to address some of the worst abuses. However, the banking crisis of 2008 revealed the extent to which financial institutions had used securitizations, special purpose vehicles, and other complex off-balance-sheet arrangements to present accounts that many would consider highly misleading. |
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