Voodoo Accounting

Voodoo Accounting,

What is Voodoo Accounting?

  1. The term accounting refers to creative and unethical accounting methods that artificially increase the number of financial statements of a company. Voodoo Accounting uses many accounting tools to increase revenue, increase revenue, hide expenses, or both.

    • Voodoo accounting is an insult to illegal or unethical accounting practices that seem to magically improve a company's financing, increase revenue, and cover expenses, or both.
    • Voodoo's accounting practices were revised, leading to a number of accounting scandals, including the fall of Enron, Tyco and WorldCom.
    • The Serbian Oxley Act of 2002 was passed in response to this regulatory reform scandal and imposed severe fines on those responsible for fraudulent behavior.

Literal Meanings of Voodoo Accounting

Voodoo:

Meanings of Voodoo:
  1. A religion applied in the Caribbean and parts of the southern United States that combines elements of Roman Catholicism with traditional African magic and religious rites and is characterized by magical and spiritual possession.

  2. It affects (someone) who practices voodoo.

Sentences of Voodoo
  1. You can use voodoo to help people

  2. Someone has voodoo

Accounting:

Meanings of Accounting:
  1. Financial account maintenance act or process.

Sentences of Accounting
  1. Investigation of false accounting claims

Synonyms of Accounting

commerce, financial affairs, banking, fiscal matters, accounting, economics, investment, pecuniary matters, business, money matters, money management