\documentclass[10pt,a4paper]{article}

% Packages
\usepackage{fancyhdr}           % For header and footer
\usepackage{multicol}           % Allows multicols in tables
\usepackage{tabularx}           % Intelligent column widths
\usepackage{tabulary}           % Used in header and footer
\usepackage{hhline}             % Border under tables
\usepackage{graphicx}           % For images
\usepackage{xcolor}             % For hex colours
%\usepackage[utf8x]{inputenc}    % For unicode character support
\usepackage[T1]{fontenc}        % Without this we get weird character replacements
\usepackage{colortbl}           % For coloured tables
\usepackage{setspace}           % For line height
\usepackage{lastpage}           % Needed for total page number
\usepackage{seqsplit}           % Splits long words.
%\usepackage{opensans}          % Can't make this work so far. Shame. Would be lovely.
\usepackage[normalem]{ulem}     % For underlining links
% Most of the following are not required for the majority
% of cheat sheets but are needed for some symbol support.
\usepackage{amsmath}            % Symbols
\usepackage{MnSymbol}           % Symbols
\usepackage{wasysym}            % Symbols
%\usepackage[english,german,french,spanish,italian]{babel}              % Languages

% Document Info
\author{echoecho}
\pdfinfo{
  /Title (comp-accounts.pdf)
  /Creator (Cheatography)
  /Author (echoecho)
  /Subject (comp accounts. Cheat Sheet)
}

% Lengths and widths
\addtolength{\textwidth}{6cm}
\addtolength{\textheight}{-1cm}
\addtolength{\hoffset}{-3cm}
\addtolength{\voffset}{-2cm}
\setlength{\tabcolsep}{0.2cm} % Space between columns
\setlength{\headsep}{-12pt} % Reduce space between header and content
\setlength{\headheight}{85pt} % If less, LaTeX automatically increases it
\renewcommand{\footrulewidth}{0pt} % Remove footer line
\renewcommand{\headrulewidth}{0pt} % Remove header line
\renewcommand{\seqinsert}{\ifmmode\allowbreak\else\-\fi} % Hyphens in seqsplit
% This two commands together give roughly
% the right line height in the tables
\renewcommand{\arraystretch}{1.3}
\onehalfspacing

% Commands
\newcommand{\SetRowColor}[1]{\noalign{\gdef\RowColorName{#1}}\rowcolor{\RowColorName}} % Shortcut for row colour
\newcommand{\mymulticolumn}[3]{\multicolumn{#1}{>{\columncolor{\RowColorName}}#2}{#3}} % For coloured multi-cols
\newcolumntype{x}[1]{>{\raggedright}p{#1}} % New column types for ragged-right paragraph columns
\newcommand{\tn}{\tabularnewline} % Required as custom column type in use

% Font and Colours
\definecolor{HeadBackground}{HTML}{333333}
\definecolor{FootBackground}{HTML}{666666}
\definecolor{TextColor}{HTML}{333333}
\definecolor{DarkBackground}{HTML}{A6C7FA}
\definecolor{LightBackground}{HTML}{F3F8FE}
\renewcommand{\familydefault}{\sfdefault}
\color{TextColor}

% Header and Footer
\pagestyle{fancy}
\fancyhead{} % Set header to blank
\fancyfoot{} % Set footer to blank
\fancyhead[L]{
\noindent
\begin{multicols}{3}
\begin{tabulary}{5.8cm}{C}
    \SetRowColor{DarkBackground}
    \vspace{-7pt}
    {\parbox{\dimexpr\textwidth-2\fboxsep\relax}{\noindent
        \hspace*{-6pt}\includegraphics[width=5.8cm]{/web/www.cheatography.com/public/images/cheatography_logo.pdf}}
    }
\end{tabulary}
\columnbreak
\begin{tabulary}{11cm}{L}
    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{comp accounts. Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{echoecho} via \textcolor{DarkBackground}{\uline{cheatography.com/198358/cs/42386/}}}
\end{tabulary}
\end{multicols}}

\fancyfoot[L]{ \footnotesize
\noindent
\begin{multicols}{3}
\begin{tabulary}{5.8cm}{LL}
  \SetRowColor{FootBackground}
  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}echoecho \\
  \uline{cheatography.com/echoecho} \\
  \end{tabulary}
\vfill
\columnbreak
\begin{tabulary}{5.8cm}{L}
  \SetRowColor{FootBackground}
  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Not Yet Published.\\
   Updated 16th April, 2024.\\
   Page {\thepage} of \pageref{LastPage}.
\end{tabulary}
\vfill
\columnbreak
\begin{tabulary}{5.8cm}{L}
  \SetRowColor{FootBackground}
  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Sponsor}}  \\
  \SetRowColor{white}
  \vspace{-5pt}
  %\includegraphics[width=48px,height=48px]{dave.jpeg}
  Measure your website readability!\\
  www.readability-score.com
\end{tabulary}
\end{multicols}}




\begin{document}
\raggedright
\raggedcolumns

% Set font size to small. Switch to any value
% from this page to resize cheat sheet text:
% www.emerson.emory.edu/services/latex/latex_169.html
\footnotesize % Small font.

\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{b/s}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{'snapshot' of a business' assets, liabilities and equity at a single point in time} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 2 (+ 0)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{assets: (resources the company owns and uses)}}} \tn 
% Row Count 3 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 3 (+ 0)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{current assets:}} cash and other assets espected to be turned into cash within next 12 months (short-term)} \tn 
% Row Count 6 (+ 3)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{→ cash → accounts receivable → prepaid expenses} \tn 
% Row Count 8 (+ 2)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{non-current: things company needs to run the business (long-term)} \tn 
% Row Count 10 (+ 2)
% Row 7
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{→ tangible (can touch) → intangible (can't touch)} \tn 
% Row Count 12 (+ 2)
% Row 8
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 12 (+ 0)
% Row 9
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{{\bf{liabilities (money owed to others)}}} \tn 
% Row Count 13 (+ 1)
% Row 10
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{current liabilities:}} everything expected to be paid within the next 12 months} \tn 
% Row Count 15 (+ 2)
% Row 11
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{→ accounts payable → taxes payable → accrued expenses → deferred revenue} \tn 
% Row Count 17 (+ 2)
% Row 12
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 17 (+ 0)
% Row 13
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{{\bf{non-current liabilities:}}} \tn 
% Row Count 18 (+ 1)
% Row 14
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{→ long-term loans/debt} \tn 
% Row Count 19 (+ 1)
% Row 15
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 19 (+ 0)
% Row 16
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{equity}}: (difference between assets and liabilities, what is leftover after all assets \& paying all obligations)} \tn 
% Row Count 22 (+ 3)
% Row 17
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{→ common stock (capital contributions, money invested in business by owners)} \tn 
% Row Count 24 (+ 2)
% Row 18
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{other comprehensive income (OCI): foreign currency hedge gains and losses, cash flow hedge gains and losses, and unrealised gains and losses for securities that are available for sale.} \tn 
% Row Count 28 (+ 4)
% Row 19
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{retained earnings (accumulated profits held for future use)} \tn 
% Row Count 30 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.9908 cm} x{2.9862 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{income statement}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{summary of a business revenues and expenses over a period of time.} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{} \tn 
% Row Count 2 (+ 0)
% Row 2
\SetRowColor{LightBackground}
{\bf{ {\emph{revenue}} }} & product sales, services rendered \tn 
% Row Count 4 (+ 2)
% Row 3
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{} \tn 
% Row Count 4 (+ 0)
% Row 4
\SetRowColor{LightBackground}
{\bf{ {\emph{expenses}} }} & direct (cost of services, cogs) increase in direct proportion to sales made \tn 
% Row Count 8 (+ 4)
% Row 5
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{} \tn 
% Row Count 8 (+ 0)
% Row 6
\SetRowColor{LightBackground}
 & {\bf{indirect variable costs}} (loosely correlate with business' sales however cant be traced back to production of goods or provision of services) \tn 
% Row Count 14 (+ 6)
% Row 7
\SetRowColor{white}
 & advertising, comissions, utilities \tn 
% Row Count 16 (+ 2)
% Row 8
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{} \tn 
% Row Count 16 (+ 0)
% Row 9
\SetRowColor{white}
 & {\bf{indirect fixed}} (overhead expenses) \tn 
% Row Count 18 (+ 2)
% Row 10
\SetRowColor{LightBackground}
 & rent, salaries, insurance, admin, legal, accounting, marketing, deprecation, amortisation (bare no correlation to the sales business made) \tn 
% Row Count 24 (+ 6)
% Row 11
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{} \tn 
% Row Count 24 (+ 0)
% Row 12
\SetRowColor{LightBackground}
{\bf{operating profit (EBIT)}} & {\emph{interest}} and {\emph{expenses}} and tax fall below operating profit \tn 
% Row Count 27 (+ 3)
% Row 13
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{} \tn 
% Row Count 27 (+ 0)
% Row 14
\SetRowColor{LightBackground}
{\bf{gross profit margin}} & how efficiently the business is producing and selling their products \tn 
% Row Count 30 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{core principles}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{assets {\bf{(stuff a business owns)}} = liabilities (for third parties) + equity (for owners) {\bf{(stuff that a business owes)}}} \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 3 (+ 0)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{adjusted trial balance: bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.} \tn 
% Row Count 7 (+ 4)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{important metrics}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- fixed assets} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- profit and loss account reserve + security in b/s} \tn 
% Row Count 3 (+ 2)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- amount of debt} \tn 
% Row Count 4 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- \textgreater{}{\bf{10\% EBITDA margin}} (10-14\% is benchmark)} \tn 
% Row Count 5 (+ 1)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{trouble}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{company voluntary agreement (CVA)} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{high amount of owners draw} \tn 
% Row Count 2 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{using mark to market (MTM) for real life assets and static business contracts} \tn 
% Row Count 4 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\emph{nature of the business sector should be taken into consideration}}*}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{big 3}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- income Statement (P\&L)} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- balance Sheet} \tn 
% Row Count 2 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- cash Flow Statement} \tn 
% Row Count 3 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- statement of Owners Equity / Statement of Retained Earnings} \tn 
% Row Count 5 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{boosting cash efficiency}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- reducing the cost base} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- divestment} \tn 
% Row Count 2 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- outsourcing = contracting tasks to external companies} \tn 
% Row Count 4 (+ 2)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- offshoring = relocating business process to another country} \tn 
% Row Count 6 (+ 2)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- cost accounting} \tn 
% Row Count 7 (+ 1)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- purchasing power parity (PPP)} \tn 
% Row Count 8 (+ 1)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- promissory notes} \tn 
% Row Count 9 (+ 1)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{detecting financial fraud in accounts}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- aggressive accounting / creative accounting} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- income smoothing} \tn 
% Row Count 2 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- earnings management} \tn 
% Row Count 3 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- accounts payable (invoices, ghost companies, round numbers)} \tn 
% Row Count 5 (+ 2)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- listing inventory and receivables as one line item (inventory + receivables)} \tn 
% Row Count 7 (+ 2)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- multiple restatements are a problem} \tn 
% Row Count 8 (+ 1)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- cumulative adjustments instead of restatements} \tn 
% Row Count 9 (+ 1)
% Row 7
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- use of Non-GAAP measures is bad} \tn 
% Row Count 10 (+ 1)
% Row 8
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- be wary of EBITDA} \tn 
% Row Count 11 (+ 1)
% Row 9
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- cooking the books = falsifying accounts} \tn 
% Row Count 12 (+ 1)
% Row 10
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- off-book accounts} \tn 
% Row Count 13 (+ 1)
% Row 11
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- round tripping} \tn 
% Row Count 14 (+ 1)
% Row 12
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 14 (+ 0)
% Row 13
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- overstating revenues by recording future expected sales} \tn 
% Row Count 16 (+ 2)
% Row 14
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- inflating an asset's net worth by knowingly failing to apply an appropriate depreciation schedule} \tn 
% Row Count 18 (+ 2)
% Row 15
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- concealing obligations and/or liabilities from a company's balance sheet} \tn 
% Row Count 20 (+ 2)
% Row 16
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- Incorrectly disclosing related-party transactions and structured finance deals} \tn 
% Row Count 22 (+ 2)
% Row 17
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- accounting anomalies, such as growing revenues without a corresponding growth in cash flows.} \tn 
% Row Count 24 (+ 2)
% Row 18
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- a significant surge in a company's performance within the final reporting period of a fiscal year.} \tn 
% Row Count 26 (+ 2)
% Row 19
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- consistent sales growth while competitors are struggling.} \tn 
% Row Count 28 (+ 2)
% Row 20
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- depreciation methods and estimates of assets' useful life that don't correspond to those of the overall industry.} \tn 
% Row Count 31 (+ 3)
\end{tabularx}
\par\addvspace{1.3em}

\vfill
\columnbreak
\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{detecting financial fraud in accounts (cont)}}  \tn
% Row 21
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- weak internal corporate governance, which increases the likelihood of financial statement fraud occurring unchecked.} \tn 
% Row Count 3 (+ 3)
% Row 22
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- outsized frequency of complex third-party transactions, many of which do not add tangible value, and can be used to conceal balance sheet debt.} \tn 
% Row Count 6 (+ 3)
% Row 23
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- the sudden replacement of an auditor resulting in missing paperwork.} \tn 
% Row Count 8 (+ 2)
% Row 24
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{- a disproportionate amount of management compensation derived from bonuses based on short-term targets, which incentivises fraud.} \tn 
% Row Count 11 (+ 3)
% Row 25
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{- using SPEs to conceal debts taken on from other loan providers and leaving it off the balance sheet} \tn 
% Row Count 14 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\emph{alteration of a companies financial statements to manipulate a company's apparent health or to conceal profits or losses.{\bf{ \newline  \newline  \newline }}vertical analysis takes every item in the income statement as a percentage of revenue and comparing the year-over-year trends that could be a potential flag cause of concern.}} \newline  \newline {\emph{horizontal analysis represents financial information as a percentage of the base years' figures.{\bf{ \newline  \newline  \newline }}one must always take into consideration that audits }}DO NOT{\bf{ find fraud}}}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{ideals}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{excellent working capital management} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 1 (+ 0)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{negative cash conversion cycle:}} inventory sold before we have to pay for it.} \tn 
% Row Count 3 (+ 2)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{{\bf{normal to low debt ratio}}} \tn 
% Row Count 4 (+ 1)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{high liquidity}}} \tn 
% Row Count 5 (+ 1)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{Positive NPV \textgreater{} Negative NPV} \tn 
% Row Count 6 (+ 1)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{things to take into consideration}} \newline  \newline {\emph{cash is a liability}}*}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.4885 cm} x{2.4885 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{good forma}}  \tn
% Row 0
\SetRowColor{LightBackground}
- The more deals you look at, the better deals you do & - Risk management is key \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
- {\bf{ {\emph{Interest}}}} + {\bf{{\emph{Taxes}} }} are an expense you get depreciation by laying out money ahead of time (worse kind of expense) due to buying an asset first and get the deduction later & - Offset with IP and avoidable taxable events \tn 
% Row Count 13 (+ 10)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{calculus}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{EBITDA =}} Measure of earnings potential of a business} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{{\bf{EBITDA =}} I + Depreciation + Amortisation (where I = Operating Income)} \tn 
% Row Count 4 (+ 2)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{EBIT =}} Operating Profit} \tn 
% Row Count 5 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{{\bf{operating Profit/Income =}} Gross Profit - Operating Expenses} \tn 
% Row Count 7 (+ 2)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{debt Ratio =}} If assets where financed debt or own money (if high bad)} \tn 
% Row Count 9 (+ 2)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{{\bf{non-current term debt/net income:}} (2-4 years good)} \tn 
% Row Count 11 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{covariant}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 0 (+ 0)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{models}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{beneish Model}} evaluates eight ratios to determine the likelihood of earnings manipulation, including asset quality, depreciation, gross margin, and leverage. After combining the variables into the model, an M-score is calculated. A value greater than -2.22 warrants further investigation, while an M-score less than -2.22 suggests that the company is not a manipulator.} \tn 
% Row Count 8 (+ 8)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{} \tn 
% Row Count 8 (+ 0)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{5.377cm}}{{\bf{benford's Law}} states "1" tends to occur more frequently as the first digit than other digits, providing a non-uniform distribution pattern. {\bf{(not strict mathematical rule / limitations - data characteristics and sample size)}} {\emph{should be used in conjunction with other models}}} \tn 
% Row Count 14 (+ 6)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}