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  "documentTitle": "Leidos Holdings, Inc. (LDOS)",
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      "text": "Notice Change In Explanation For Unbilled Receivables Growing From Timing of Revenue Recognition of Contracts To Two Deals Closing",
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      "text": "Pay very close attention to the rapid increase of unbilled receivables and current deferred revenues deep in the footnotes of Leidos' financial statements. Leidos ceased explaining what drove the increase in deferred revenues in the past two 10-Qs, and changed its explanation for the increase in unbilled receivables.",
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      "text": "Unbilled Receivables: $829",
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      "text": "Preceding studies have shown that unbilled receivables may lead either to earnings management or accounting fraud and issued warnings for stakeholders to carefully observe unbilled receivables. — Academy of Accounting and Financial Studies Journal, 2019",
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      "text": "Source: Leidos SEC filings, Note 6 – Contract Assets and Liabilities. Note: Leidos reports Unbilled Receivables in Total Receivables, Net and Current Deferred Revenues in AP&AL. 1) “Unbilled Receivables, Loss Allowances and Earnings Management”, Academy of Accounting and Financial Studies Journal, 2019",
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