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There are many questionable accounting practices that somecompanies get involves in from time to time. The idea of the accounting tricksare always to try and make the company look better to investors when they aretrying to make determinations about how a company is doing. The companies wantto look good so that they will be able to either retain money in their coffersor gain more money from new investors. The worst part is that many of theaccounting practices are perfectly legal. Immoral, but legal.The Securities and Exchange Commission (SEC) is looking tochange all of this. One of the things that they want to put a stop to is thepractice of selling assets to other companies in order to buy them back afterreporting the quarterly statements. This is known as short-term borrowing andit is completely legal to do. Worst of all, there is nothing which states thatthey have to announce these borrowing methods on the quarterly reports. Theyonly have to state it on the annual reports.One of the reasons why the SEC wants this practice to stopis because it defrauds those looking to find out what is going on in thecompany. If they go the true picture about companies like Lehman BrothersHolding Inc., they would see that the company is more in the market for thetarget of debt consolidation leadsthan the growing company they made themselves out to be. By looking at theholdings of the company right after the quarterly report, you would see a verydifferent picture one that is closer to the truth.Measures Being TakenCurrently the SEC is investigating 19 other companies whichappear to have engaged in the same kinds of activities as Lehmen Brothers wereinvolved in. They have asked them to talk about their accounting practices andwhat it can mean to the investors for the companies.While it is not likely that they will make the companies seethat it is better for them to invest in debt consolidationrather than in defrauding the investors, it will at least help to pave the wayto new regulations. This is done by taking a realistic look at the dealings ofthe companies in question and seeing if it is causing a negative impact on theinvestors of the companies which have engaged in questionable accountingpractices. The regulations which have been proposed will first have tobe agreed upon by those in the SEC and then they will have to be agreed upon bythe companies and the investors before going back in for a second vote. Thelengthy process will likely allow the companies to continue in stealing moneyfrom investors, but it is good to see that action is being taken to allow thecompanies with the ability to act with a sense of propriety to get rewarded fortheir good business sense and honesty about their performance.
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