Search+Intelligent InvestingSynopsisWarren Buffett compared modern corporate accounting to a golfer who turns in a score of 140 in his first round (thanks to fake bogeys), and then claims to be an 80 shooter for the rest of the season. The scheme is both legal and widespread. And it is costing investors billions.If you thought manipulating earnings was done only by Indian companies, think again. The fact is, it is a global phenomenon. Warren Buffet had his take on how it is done and how investors could spot it. Imagine a golfer who plays his first round of the season alone, with only his caddy watching. He ignores his actual performance. Instead, he fills his scorecard with imaginary disasters (double bogeys, triple bogeys, quadruple bogeys) and turns ETMarkets.com 18 mins readJun 04, 2026, 06:15:00 PM ISTGift this Story to your friendsFONT SIZEAbcSmallAbcMediumAbcLargeSAVEPRINTCOMMENTContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories & personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions & in-depth stock reportsSubscribe NowETUh-oh! This is an exclusive story available for selected readers only.Worry not. You’re just a step away.What’s Included withETPrime Membership