Where’s Joe, page-44

If your honest!! C'mon Manny your talking to Fish here

I can smell something and its not roses, looking out my window up here north of the Tweed the air is full of smoke.

Hows your Yr 11 accounting go with the Taylor Collison report (Part 1) ? We've heard plenty from you about VGI report but not so much on TC, heres a link from the Afr about it and Joe isn't the writer and i presume your ok with poor old Johno and Vesna.
https://www.copyright link/markets/equity-markets/taylor-collison-poses-new-questions-of-corporate-travel-accounts-20190819-p52ig6

Then after you've read that if you scroll back up you'll see a 'related' story...... a CFO's favourite cashflow weapon. The Afr seems to think these articles are somehow related, what do you think? Do you know if CTD use factoring in any way?
In this article Ownership Matters gives an example of a company that was called Carrillion who reported 117% cash conversion in 2016..... heres a snippet
" By choosing to report financing cashflow as operating cashflow, a company could make its cash conversion appear better than it really is.
For example, Carillion reported 117 per cent cash conversion in 2016 - that is, the company's underlying cash generated from operations (£277.1 million) exceeded underlying profit from operations (£235.9 million). It had the effect of conveying that Carillion had no problem converting profits into cashflow." https://www.copyright link/markets/equity-markets/the-quiet-rise-of-factoring-a-cfo-s-favourite-cashflow-weapon-20190712-p526ll
They also use Amcor in a different type example further below.

What do you think of this type of accounting and those opinions in the articles?