Ideally, investors would always want to have access to financial reports that are based on sound financial reporting standards and which are free from manipulation. However, in practice, the quality of financial reports can vary greatly across companies, and therefore, earnings can be manipulated by accounting tricks, one-time items, or anomalies. In this article, we will understand the concept of quality of earnings (QoE) and how you, as an investor, can gauge the quality of earnings.