One Ratio to Find Frauds for Retail Investors 🧐🤓
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- čas přidán 13. 09. 2024
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"Accounting is the language of Business."
- Warren Buffett
Hi Investors! Smart Investors keep one eye on the Business and other on the Accounting Ratios 🥸
One of the most sought after things in investing is Growth. We are often asked about businesses and their rapid growth. What we want our students and followers also to track are the Accounting Ratios to detect if the growth is genuine or it is being fabricated through some Financial Shenanigan.
Today we will discuss one of the most important ratio called CFO/EBITDA ratio. This ratio is very effective and useful in tracking the Cash Conversion of a business. We will see how businesses across different industries are placed in respect to CFO/EBITDA ratio.
Hope to keep adding value to your investing journey.
Awaiting feedback in Comment Box 🙂
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#soic
Whenever I listen the word cashflow .. it's Saurabh Mukherjea comes to my mind
😂
Nice video Ishmohit sir.
Q1). Name of the company - Satyam computer services
Q2). The company's promoter B. Ramalinga Raju inflated the companies earnings and assets through accounting mismanagement, bogus invoices and non-existent bank balance records. The company's failure to purchase two infrastructure companies and the company's auditors concerns about the accounts led to the discovery of the scam. Later, Tech Mahindra acquired the majority stake in Satyam computer services and rebranded its services as 'Mahindra Satyam'.
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Thanks for the informative video sir.
A) The Satyam Computer
B) The Satyam Computer Services scandal, also known as India's Enron, was a corporate fraud that involved the manipulation of the company's financial statements by its founder and then-chairman, Ramalinga Raju. Raju had been inflating the company's earnings and assets for several years, and had created fictitious assets and bank accounts to show inflated profits.
The fraud came to light in 2009 when Raju confessed to the accounting irregularities. The fraud was estimated to be worth around $1.5 billion, making it one of the largest corporate frauds in Indian history.
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Great video yet again Ishmohit and Team.
1) Company name: Satyam Computers
2) The company promoter inflated the accounting statements and showed more and more profits. The profit amount is used by the promoter to buy property. He also has one company named Maytas infra. As soon as the property market crashed in that bubble. The promoter then agreed and accepted that he had cooked and inflated the book.
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Very nice video The answer is sathyam and the company fictitious shown cash and bank deposits
The company had fraud in 2009 (IT)
Is satyam computers
2. The promoter was diverting funds and doing accounting fraud.
The promoter stake was below 8% already raising concerns before crash
I salute your hard work. Excellent thank goodness 👍
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Great video! Your insights on finance are truly helpful and informative. I appreciate your effort in simplifying complex concepts. Looking forward to watching more of your videos
Glad it was helpful!
Thanks SOIC team for this valuable video.
The company name is Satyam computers.
The company fudged their financial by overstating them by bogus revenues (fake sales) and stating bogus cash reserves and swindling them to buy real estate properties in Hyderabad. They also made fake invoices and swindled that pay the directors. This all went bust when 2008 financial crises crashed the property rates.
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1 . Name of company is Satyam computers
2 . CEO of company Ramalinga Raju , accepted responsibilities for accounting irregularities , that exaggerated companies sales and earnings as well as a cash position of about 1 billion dollars which didn't existed in irregularities , at one point in time stock even reached a low of around 7 rupees
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You organise information very well and really deliver the message in the most unique and understanding way . Non-financial people like me are able to understand it.
Glad it was helpful!
1- Company name - Satyam computers
2- Here promoter Raju inflated revenues and profit but poor cash conversion plus he controlled the board by appointing his family and relatives as board members. He did all this in the greed of participating the real estate boom of 2003-07, which he tought with property price appreciation will be able to compensate Satyams cash flows but when bubble burst it all came down.
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Wow ..such a beautiful video... knowledge increasing per video👏🙌
Glad you liked it
1. Company name- Satyam computers
2. Ramalinga Raju was the promoter of the company. He manipulated the p&l and balance sheet. Showed inflated sales and profits, so the stock can go up and later to support the stock. It was around $1.5 b of fraud.
RE sector was in boom those days. So he started buying properties aggressively. He was short of funds, so he started issuing fake bills and amounts.
His plan was to make quick money from RE and later bring back the money into the company. But RE sector busted in 2009 crisis and his fraud came into light.
Later tech mahindra acquired the Satyam.
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Great video as usual @ishmohit. Keep up the great work. The answer to the questions.
A) The Satyam Computers Ltd
B) Accounting fraud. Raju cooked the books for years and inflated revenues and profits. Created fake payroll and deposited the money in the bank and paid taxes on those interest to cover up everything. All this done with the help of Auditors. Forensic accounting prominence slowly rose from there in India.
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will it give a better accurate picture, if CFO prior to taxes is considered rather CFO after taxes, as CFO before taxes and EBITDA gives an apple-apple to comparison, where both will be have same base - prior to taxes.
1. Satyam computers services
2. B Ramalinga Raju of satyam computers himself disclosed that he had inflated the financial statements figures because he believed that punishment for inflating the financial statements is much lesser than siphoning of funds to the tune of 7000 crores in January 2009. The following resulted in loss of investors money, lost of trust of world bank in Indian companies and downturn in IT sector. Eventually all the assets of satyam were purchased by Mahindra group in 2013 and Ramalinga Raju was sentenced to Jail in 2015.
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1. Sathyam computers fraud came to light
2. The company had been showing false/inflated cash in the closing financial statements. Then reversing the cash in the following month of new financial year. This was going on for 7-8 years without being objected by the auditors. The fraud ended up to around 11k crores when it was declared by the Chairman Ramalinga Raju himself. This is a kind of management fraud which remains undetected for years.
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Useful information sir. The answer for your question is
1)Satyam Computers
2)It inflated revenues and profits. It made the the stock attractive to investors and lenders.
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The name of the IT company is Satyam Computers. Promotor was interested in buying real estate and needed money for that. he inflated the sales and profits of Satyam and hence the stock price went very high. Promotor pledged and sold its shares to get the money which got diverted to buying real estate near the upcoming metro line. At that time it was not a mandate to inform the market about share pledging. It was shown that all profits are in bank accounts. Auditors payment was also very high. After 2008 crisis, he tried to buy two companies using this fake money to cover up. Once the plan failed, he accepted the fraud.
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1.)Satyam computers
2.) Overstated the revenue from operations and cash flow from operations for many quarters.
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I can't thank you enough for these sessions full of knowledge 😊
Glad you like them!
A)Satyam Computer
B)The Satyam accounting fraud was about the manipulation of financial statements by the company's Chairman, Raju, to make it appear more profitable than it actually was. Raju inflated Satyam's revenue and profits, which amounted to approximately $1.5 billion, in one of the largest corporate frauds in India's history.
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Hey Ishmohit, thank very much for such nice and information video.
1) The Company name is "Satyam Computers".
2) Promoters pump Satyam's Financial statements and shows the huge profit. And profit used in Company name "Maytas" company (this name is just a reverse order of SATYAM"). Which is deal in real estate (infra) business. In 2008-09 infra market collapse and all fraud got open.
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1)Company Name :- Satyam Computers.
2) Fraud :- Accounting irregularities that exaggerated the company’s sales and earnings, as well as a cash position that did not exist.
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Thanks Ishmohit. As always, great content, full of learnings.
1. Company name: Satyam computers, it was later sold to Tech Mahindra
2. Mr Raju, the promoter of the company inflated the earnings of the company to meet the analyst expectations. He created records of fake employees, withdrawn salary on their behalf and inflated the balance sheet with the cash which didn't exist.
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1. Company name is Satyam Computers
2. The promoter inflated top and bottom( profits ) line to show a rosy picture to investors and analyst with the desperation to keep stock prices of satyam stable. Technically the CFO added these profits to net worth on the liability side of balance sheet and as counter entry on asset side with fictitious bank FDs which really didn't exists. When came under the regulator scanner Ramalinga Raju confessed having declared fake FD as cash reserves on asset side of balance sheet.
1. Satyam Computer Services
2. The founder and directors of company falsified the accounts and show false/ fake profits, inflated the share price, and stole large money from the company. Much of this was invested in property.
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I was not able to find or create a custom ratio for CFO/EBITDA on screener, did some one figured out or any other place where we can do?
Answer is Satyam. The company MD increased the number of employees through dummy accounts and siphoned money through salaries.
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Name of the company: Satyam Computers
Frauds Involved: Manipulation of sales & profits, withdrawal of salaries in the name of employees by the owner who did not exist, the irresponsible duty of the auditors (PwC), etc.
Nice information sir ji apna portfolio bhi share karo PLEASE sir ji
Great Video
Now the answer to your question
Name of Co: Satyam
Fraud that was involved: Falsified accounts by fake bills and receipts.
Made false investment such as 5000 cr in a FD.
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1. Satyam Computers
2. Overstated the revenue from operations and cash flow from operations for many quarters.
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Great information in very simple manner. ❤
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1.Name of the company is SATYAM COMPUTERS.
2. Salaries of the non existing employees transferred to other accounts. The money which was transferred can not be retrieved back due to bad investments. This contained over many years. This got accumulated and can not hide from auditors for longer time periods.
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Great video... Probably first time full length in English... Good for some users.
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The name of the company is Satyam
It reported inflated p&l and cash flow statement and the actual cash lying on the balance sheet was not there in real
1. Satyam
2. Mr Raju fudged the satyam accounts to the tune of Rs 7000, inflated share price , much of the amount is invested in Hyderabad real estate market through maytas infra . Consequently due the crash of real estate market , Mr Raju confessed about the fraud.
1. Satyam Computer Services Limited
2. Satyam manipulated Financial Statements by :
A) Satyam inflated Revenue and Profits by raising Dummy Invoices thereby inflating Debtors and Profit
B) Satyam underreported liabilities to give a better picture of company
C) Satyam Inflated bank balance by creating Dummy Bank Statements (Satyam also inflated interest income on Bank balance which was non-existent)
D) Salaries were being paid to Dummy Employees (which was being siphoned off by Mr. Raju)
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Can't imagine why I ignored this channel for 1 year
Superb as always
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Hi Ishmohit 😀...Hell yes!
a. The name of the company involved in the Accounting Fraud in Jan 2009 in India is Satyam Computer Services Ltd.
b. The fraud at Satyam Computer Services Ltd. was a financial statement fraud. The founder and former chairman of the company, Ramalinga Raju, confessed to inflating the company's revenue, profits, and cash balances for several years. The fraud was estimated to be around $1.5 billion, and it caused significant damage to the reputation of the Indian outsourcing industry. Raju and other involved executives were charged and convicted for their role in the fraud.
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Company name of Satyam computer service
IT company in focus question was Satyam Computers. Its promoters Sh Ramalingam Raju cooked the books of company to show extraordinary profits. He entered into real estate business through inception of company named Maytas Infra which had huge related party transactions with Satyam Computers. There emerged various issues of corporate governance and finally Mr Raju spilled the beans that he has perpetrated accounting fraud brining all the companies down with himself.
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Company name : Satyam Computers
Company fraud : all of the accounting irregularities that exaggerated the company’s sales and earnings, as well as a cash position of about $1.04 billion that did not exist .
Company not earning profile as they show in balance sheet ( mainly Cash Flow Statement ).
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1. Satyam Computers
2. Real estate sector was on a boom during that period & Mr Raju started buying the land properties in Hyderabad and nearby areas and for the same he started manipulating financial statements of Satyam Computers to generate more funds.
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Google sheet link not available in description, can you provide it please@SOIC team
Please email us at info@soic.in for any assistance.
Company name is Satyam, they tried to transfer fund to a real-estate which was their own company plus price of share price was inflated
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A lot of cash reserves in balance sheet but no aquisition or capex or dividend is sign of accounting error..one should be careful at that time...
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In 2009, Satyam Computer Services, an Indian IT company, was involved in a major accounting fraud. The company's founder and chairman, Ramalinga Raju, admitted to inflating the company's profits and assets for years, leading to a loss of investor confidence and a significant drop in the company's stock price. The fraud was one of the biggest in India's corporate history and led to the arrest of Raju and several other executives.
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Thanks a lot for putting it in English
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Satyam Industry
Company inflated accounting statement & show more profit than they actually earn. For example 60Cr profit shows at 600Cr profit. In real estate boom cycle real estate profit adjusted in satyam balance sheet. Once real estate bubble burst satyam promoter find difficulty in adjust inflated profit in balance sheet.
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PEL ka P/E 5.80 h, fir bhi downtrend me h esa kyon???
Hell Yes! I have been wanting to compare cash flow from operations to something but didn't know it was to be compared to EBITDA. Great Job
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Hey Soic,
A. Satyam Computers
B. Fake Accounting, matlab yeh log fake bills generate karte the aur apne financial statements dikhate the ki company bhot acha karti hai aur Raju ko real estate me jyada interested tha toh yeh bohot real estate invest karte. Actually most of his real estate that he bought were near metro lines kyu use pata chal raha tha ki kaha metro line ban rahe the lekin jab stock market crash hua toh uska plan flop hua aur usne sebi ko inform kiya ki usne financial statements manipulate kiye the.
He was a evil genius!
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In CFO, tax is deducted but in EBITDA tax is not considered, so is it beneficial to consider NOPAT instead of EBITDA.??
Ebitda is earnings before excluding interest tax depreciation and amortization and the other way ... U have mentioned as it's excluding it
Thank you sir for sharing ur knowledge
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Oye lovely analysis mundeya! U r a gem bha.
Screener me ye wala ratio show nhi kar raha . Iska istemal kaise kare...pls guide....
Satyam computers, and they kept a lot of fictitious cash on book, which they didn't really have, which they also tried to cover up with merging with a promoter company called maytas infra, entirely unrelated, but it didn't wor
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Sir Satyam is an IT comapny who did fraud in 2009
B- promotor inflated the accounting statements to show more profit.
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@@SOICfinance yes sir going through all your videos
Answer for your 1st question is Satyam Computers.
For 2nd question is the fraud related to accounting.
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1. Satyam
2. Among the other things Satyam inflated earnings and employee headcount.
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Company Name: Satyam Computers
Issues:
1. Overstated quarterly revenue and PAT
2. Salary withdrawn against non existed employees
3. Maytas real estate company
acquisition by satyam which was owned by Mr Raju
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Satyam. Inflated earnings to keep stock prices at higher level through fraud accounting practices.
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Satyam computers. They overstated turnover and cash and cash equivalents for a prolonged period of time.
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1. Satyam Computer. 2. It was a case of siphoning of funds to real estate.
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Company Name:
Satyam Computer later acquired by Mahindra Group
Fraud:
It falls under the creative accounting category.
On its balance sheet the assets side was inflated by $1.47 billion out of which $1.04 billion in bank loans and cash claimed was totally fake.
Also the liability side was understated.
Raju also used his personal computer to created fake bank statements which helped in inflating the balance sheet on asset side.
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1. Satyam
2. Cash was shown in account but actually it was already moved from satyam to maytas
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Name of company :- satyam computers
Fraud :- he used to deposite money , send deposite slip to auditor , take money out and deposite in another band account and again used to send deposite slip to auditor. So actual total bank balance was way less than what were in books of accounts.
So
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The name of the company is
1. Satyam
2. The company inflated its income statement through dubious practices. Company started showing that there was a lot a cash with the company. But the company was not generating that much cash. The company parked its inflated cash into current account which is also dubious as current account doesn't give any interest. When investor community started asking about how the company will use the excessive cash lying in the books. Actually there was no cash in the book as it was inflated only. So finally the company thought of buying some real estate asset which were with promoters to artificially show that the cash of being consumed. But that also failed. At the end the scam was unfolded and came to know that there is not any cash with company. The company is inflating its income statements.
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Awesome content 👍👍. Really helpful to retail investors ❤🙏.
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First time I am giving review on youtube. Thank u super.....
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Great learning video.. thanks a ton Ishmohit Sir
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SATYAM computers is the correct answer. The CEO of the company Ramalingam Raju overestimated the profits of the company and was actually doing business through the backdoor company MAYTAS . The company was later acquired by Mahindra and Mahindra inorder to save it from bankruptcy and saving lakhs of its employees and their families
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Hi sir
There is no such Ratio in screener
Can u guide how to create this ratio in screener
1. Satyam computers
2. Overstatement of earnings, high RPT (promoter was siphoning money)
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Ans:-
a) Name of the Company: Satyam Computers
b) The fraud is : Accounting irregularities that exaggerated the company’s sales and earnings, as well as a cash position of about 1.4 billion dollar.
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What the hell of a video is this 😜.... Hell yes... Truly wonderful...... Idea get but where to learn it.... Come and watch here and learn 👍... Thanks for creating more and more learners corner.... For free when it worth a lot... Waiting for another bomb... 🕵♂️
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Great video, request to post this kind of videos 3 days in week , it really appreciated
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Requesting to make weekly one video on these kind of fundamental analysis
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Great insightful video as always. Love u r analysis. Now the give away question. The answer is company name was SATYAM computer services Ltd. The promotor of company named Ramlinga Raju and his brother ( forgotten the name). Inflated company accounts and show greater profits in balance sheet. They have also a sister company there they put company cash and invested in properties. As 2009 property market crashed and they struggled to got cash so the scam comes out. I also lost lots of money that time bcoz i was invested in it that time. Thank u for u r great analysis. ❤❤❤❤❤❤❤❤
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Why did you subtract Taxes? PBT itself is a before tax item so why subtract it ?
In 2009, Satyam Computer Services, a major Indian IT company, faced fraud charges. The founder and chairman of Satyam, Ramalinga Raju, admitted to inflating the company's earnings and assets for several years, amounting to a whopping $1.47 billion.
The scandal came to light in January 2009 when Ramalinga Raju sent a letter to the board of directors confessing to the fraud. The company's stock price plummeted, and the Indian government took control of the company to prevent its collapse.
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1. Name - Satyam
2. They cooked the book showing that they had asset in their name. But the Promoters created another Company Maytas where they invested in real estate shiphonning off money from Satyam company!
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Great video as usual. This concept already taught by you in your forensic accounting course. Good revision now. Thanks.
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Satyam Computers. Fraud was of inflating the sales numbers and due to which the receivables were very high. Cash sales were not happening.
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a. Satyam
b.Satyam inflated or is suspected to have inflated: earnings and employee headcount.
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Excellent!!
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Good work, thanks
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in 2009 the it company which made fraud is "satyam", manipulated the accounts of Rs 7,000 crore in several forms.
thanks ishmohit sir for teaching.🦁
❤💐🙏
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Thank you for creating the content in English. Excellent inputs and lots of learnings
Glad you like them!
Hello Sir, If possible make a detailed video on Minimum Reserve System of RBI...
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Satyam - They showed money that was not present in their books giving the wrong impression that they are doing well, and then they spun up mytas, to justify the same and did RPA.
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Company was Satyam, Its director fudged the account, siphon off the money and inflated share price.
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Satyam computers
They showed more revenue than actual revenue they earned and later it was acquired by tech Mahindra
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Great Video. Thanks. AS you explained, CFO has no tax element but EBITDA has tax element in it. So which is more accurate comparison - CFO vs EBITDA or it is CFO vs (EBITDA - Tax)
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Company Name - Satyam Computers
Fraud - Promoter of the completed inflated accounting books by showing fake sales. The fake profits were shown as the deposits in the bank. Later when the situation was out of control, Promoters tried to match the financials by investing in a promoter based firm by the name of Matyas.
However, the last resort didn't go well and the bubble was busted.
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Sir, Satyam mai Satya ke alava sab kuchh tha, Software company ko property mai jana tha, Matlab ki Maruti 800 ke paise the aur audi leni thi 🤓
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Its amazing, nowadays how people spend their valuable time to learn all these on social media.. And when u tell them to study all these concepts in school college, tab toh fees deke bunk marte hai.. Vaah re Duniya...
School college me ese sikhate bhi nhi na
Crisp & cristal clear.. Tnks for great job🎉🎉
Company name -satyam computers
Fraud-company inflated their earning.
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