“What has been disclosed is that cash flows are not impacted, just the P&L. This leads me to hypothesize that the accountant changed the coding of these delivery transactions to charge the payments to a balance sheet account versus a P&L account. As a result, while the payments were appropriately recorded as cash outflows payments, the expense was never reported,” Carpenter said. “This coding could have happened at the time the transaction occurred, meaning it was tied to the transact...
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