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  "documentTitle": "Verint Systems, Inc. (VRNT)",
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  "authorName": "Spruce Point Capital Management",
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  "notes": "Includes excerpts from Ernst & Young and Strategic Finance Magazine to support the accounting argument, followed by a specific table from Verint's 10-K.",
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      "text": "Is our concern regarding pulled-forward revenue confirmed by the fact that, following Verint's adoption of ASC 606, accounts receivable and contract assts increased significantly?",
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      "text": "By including within its definitions of \"cloud revenue\" and \"cloud ARR\" a term-based source of revenue, management also exposes these metrics to the effects of revenue recognition policy changes imposed by ASC 606.",
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