Analyze earnings quality and potential red flags for {{TICKER}}: 1. Revenue Recognition: - Policy summary and any recent changes - Unbilled receivables / contract assets trend - Deferred revenue as leading indicator - Related party revenue % 2. Cash Flow vs. Accrual Divergence: - CFO / Net Income ratio (5-year trend) - Accruals ratio: (NI - CFO) / Average Total Assets - Days Sales Outstanding trend - Inventory days trend 3. Expense Manipulation Signals: - Capitalized costs as % of total spend - Depreciation policy vs. peers - Restructuring charges frequency - Stock-based comp as % of revenue 4. Balance Sheet Quality: - Goodwill and intangibles as % of equity - Impairment history and triggers - Off-balance sheet obligations (operating leases, unconsolidated JVs) - Pension funding status 5. Audit & Disclosure: - Auditor tenure and any changes - Material weakness history - SEC comment letters (key themes) - Restatement history Output: Earnings quality score (1-10) with specific red flags highlighted and recommended follow-up questions for management.