Personal experience regarding shipbuilding stocks

Based on my experience, the types of stocks I feel I should never even look at
are shipbuilding and construction stocks.
If you look at their accounting, "unbilled receivables" are always present.
They take on orders, record them as profits as construction progresses,
recognize accounting gains, and then accumulate unbilled receivables..
Massive accounting fraud was committed using this method;
ten years after the IMF crisis, window-dressing accounting scandals occurred,
such as the Daewoo Shipbuilding & Marine Engineering and Hyundai Engineering accounting fraud cases..
Companies that were profitable one day became loss-making overnight..
Samsung Heavy Industries also turned into a loss-making company through strange actions
like big baths or what felt like actual accounting malpractice..
After seeing this, I never look at shipbuilding or construction stocks again
due to the high possibility of accounting fraud.