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  "documentTitle": "C3.ai, Inc. (AI)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2022-02-16 00:00:00",
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  "notes": "The slide uses a forensic accounting argument to suggest 'cookie jar' accounting practices.",
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      "text": "Here is more evidence to suggest that Baker Hughes might be used as a \"cookie jar\" reserve when revenues are needed. Our forensic accounting review detected a major discrepancy in C3's accounts receivable disclosures.",
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      "text": "Discrepancies like this can indicate material issues with their revenue recognition. The difference of disclosure almost directly matches the change in unbilled receivables",
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      "text": "Here is more evidence to suggest that Baker Hughes might be used as a \"cookie jar\" reserve when revenues are needed.",
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      "text": "Sources: 2Q'22 10-Q and 10-K. 1) From the footnotes... 2) From the \"Customer Concentration\" disclosure section.",
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      "text": "Accounts Receivable: $5.0",
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      "text": "Major Discrepancy With Baker Hughes Reported Accounts Receivables Supports Our Case",
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