Definition: Suckage is a term used in accounting to describe transactions that are not recorded or reported properly. In other words, it refers to financial misreporting that occurs when an entity records expenses and revenues incorrectly, resulting in overstated net income. This can happen due to various reasons such as incorrect billing of services, overbooking sales, or underestimating costs for certain items. Suckage can be a significant issue if not addressed properly, leading to potential penalties and legal issues.
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