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Introduction

I found Peregrine's story on the Internet while doing a Google search. As I was reading "Financial Shenanigans" from Horward Schilit to prepare for the level 2 of the CFA examination, I decided to have a closer look at the financial statements of Peregrine Systems Inc. that were published before the shenanigans became publicly known (in May 2002) in order to detect those shenanigans solely based on those financial statements – more specifically on the forms 10K filed by Peregrine between 1998 an 2001.

Here is a summary of the story, quoted from the court that had to rule on those irregularities:

1.Peregrine Systems, Inc. ("Peregrine") was a computer software company headquartered in San Diego, California. Peregrine was incorporated in California in 1981 and reincorporated in Delaware in 1994. From its initial public offering ("IPO") in April 1997 until it was delisted on August 30, 2002, Peregrine was a publicly held corporation whose shares were registered......

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Approximate Word Count: 3031
Approximate Pages: 13 (250 words per double-spaced page)

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