Lumpsteak Company anticipates some difficulty in meeting the operating cash flow level that financial analysts are expecting from the company this year. As a result, the chief financial officer (CFO) has ordered the accounts payable department to make no vendor payments in the month of December but to send assurances to the vendors that these missed payments will be made up in January. In addition, the CFO has instructed the purchasing agent to delay making any new inventory purchases until January. Finally, the CFO has made arrangements with a financing company to package a large number of Lumpsteak’s accounts receivable and “securitize,” or sell, them to the financing company. This is a way for Lumpsteak to receive its cash immediately without waiting for customers to pay their accounts. Some companies report the cash proceeds from securitizing accounts such as this as cash from financing activities; Lumpsteak has determined that the securitization cash inflows will be reported in the Operating Activities section of the statement of cash flows. At the beginning of Chapter 5, it was explained that one benefit of operating cash flow is that it provides a reality check in situations in which a company has an incentive to manipulate reported earnings. Can reported operating cash flow be manipulated? Explain any difference in the actions necessary to manipulate reported earnings compared to the actions necessary to manipulate reported operating cash flow.