Who Said Creative Accounting Is Dead ?

It appears that NZ Farming (NZX) ran into a little trouble with the regulators when they accidentally included the suggestion of “fudging depreciation” in their account statement:

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NZ Farming Systems Uruguay Ltd – Annual Financial Statement
click for larger graphic
fudgie

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I am not at all familiar with the company, but I do seem to think that this sort of accounting term is discouraged in public entities . . .

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Note:  The Company responds here:

NZ Farming Systems Uruguay Ltd – Annual Financial Statement
http://www.nzx.com/markets/NZSX/NZS/announcements/2806777/NZ-Farming-Systems-Uruguay-Ltd-Annual-Financial-Statement

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Hat tip Damien

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