Many large U.S. companies continue to try and "game the system" at year's end, artificially improving their balance sheets by manipulating receivables, payables and inventory, according to a study from REL, a division of The Hackett Group. Their efforts, which can range from deep discounting and extended payment terms on sales to simply "losing" supplier bills, do have a positive impact in Q4, the study found. But these companies pay a harsh price in Q1, when working capital performance bounces back to even worse levels than before.