With major financial scandals popping up in greater numbers, it has never been more important to understand how dishonest companies trick investors. Since the early 1990s, Financial Shenanigans has been helping investors unearth deceptive financial reporting at the most critical time — before they suffer major losses.
Now, the third edition broadens its focus to include the newest, most sophisticated techniques companies use to mislead investors. Referred to as the "Sherlock Holmes of Accounting" by BusinessWeek, Howard Schilit and renowned forensic accounting expert Jeremy Perler take you deeper into the corporate bag of tricks, exposing new levels of accounting gimmickry and arming you with the investigative tools you need to detect:
Earnings manipulation shenanigans: Learn the latest tricks companies use to exaggerate revenue and earnings.
Cash flow shenanigans: Discover new techniques devised by management that allow it to manipulate cash flow as easily as earnings.
Key metrics shenanigans: See how companies use misleading "key" metrics to fool investors about their financial performance.
Financial Shenanigans brings you completely up to date on accounting chicanery in the global markets, shining a light on the most shocking frauds and financial reporting miscreants.
This insightful, detailed guide written by recognized experts on the subject provides the knowledge and tools you need to spot even the most subtle signs of financial shenanigans.
Hardcover, 318 pages
Table of Contents:
Chapter 1: As Bad as It Gets
Chapter 2: Just Touch Up the X Rays
Chapter 3: Earnings Manipulation Shenanigan No. 1: Recording Revenue Too Soon
Chapter 4: Earnings Manipulation Shenanigan No. 2: Recording Bogus Revenue
Chapter 5: Earnings Manipulation Shenanigan No. 3: Boosting Income Using One-Time or Unsustainable Activities
Chapter 6: Earnings Manipulation Shenanigan No. 4: Shifting Current Expenses to a Later Period
Chapter 7: Earnings Manipulation Shenanigan No. 5: Employing Other Techniques to Hide Expenses or Losses
Chapter 8: Earnings Manipulation Shenanigan No. 6: Shifting Current Income to a Later Period
Chapter 9: Earnings Manipulation Shenanigan No. 7: Shifting Future Expenses to an Earlier Period
Chapter 10: Cash Flow Shenanigan No. 1: Shifting Financing Cash Inflows to the Operating Section
Chapter 11: Cash Flow Shenanigan No. 2: Shifting Normal Operating Cash Outflows to the Investing Section
Chapter 12: Cash Flow Shenanigan No. 3: Inflating Operating Cash Flow Using Acquisitions or Disposals
Chapter 13: Cash Flow Shenanigan No. 4: Boosting Operating Cash Flow Using Unsustainable Activities
Chapter 14: Key Metrics Shenanigan No. 1: Showcasing Misleading Metrics That Overstate Performance
Chapter 15: Key Metrics Shenanigan No. 2: Distorting Balance Sheet Metrics to Avoid Showing Deterioration
Chapter 16: Shenanigans Recap and Recommendations