Exposing Creative Accounting
at the World's largest listed companies
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The Bucephalus G-A-P score
Use our Governance, Accounting and Performance score to test companies for creative accounting. It uses multiple quantitative and qualitative tests to quantify the risk that a company's accounts, as presented by management, have diverged from the business reality. |
The Bucephalus Operating Return on Utilised Capital (BORUC)
BORUC helps investors see through Creative Accounting. It reveals a company's real return on capital by normalising both the accounting profits and the balance sheet. Click here to download sample reviews for Tesla, Nissan and Baidu |
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Company reports
Thematic reports
Looking for ideas using BORUC: the Bucephalus Operating Return on Utilised Capital Capital cycle opportunity: Using the capex cycle and RoIC to search for opportunity Manipulating Enterprise Value: Obscuring debt and inflating assets to cut multiples Hire & Fire: Employment as a guide to growth, creativity and performance |
Our service
Our clients Asset owners, portfolio managers and analysts use Bucephalus to monitor individual companies, portfolios and total-balance exposure Our coverage The 4,000 largest listed companies in North America, Europe and Asia |