Financial shenanigans How to detect accounting gimmicks and fraud in financial reports

Howard Mark Schilit, 1952-

Book - 2018

This fourth edition of the bestselling guide shines a light on the most shocking frauds and financial reporting offenders, and gives investors the tools they need to spot deceptive financial reporting in the global markets. This unparalleled guide provides the investigative tools you need to detect: * Corporate cultures that incentivize dishonest practices * The latest tricks companies use to exaggerate revenue and earnings * Techniques devised by management to manipulate cash flow as easily as earnings * Companies that use misleading metrics to fool investors about their financial performance * How companies use acquisitions to hide deterioration in their underlying business You'll learn everything you need to know to unearth deceptiv...e reporting and avoid costly mistakes. This new edition focuses on the key case studies from the past quarter century and brings you up to date on accounting chicanery in the global markets. Howard Schilit and his team of renowned forensic accounting experts reveal the most shocking frauds, expose financial reporting miscreants, and unveil the latest methods companies use to mislead investors. -- Amazon.com.

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Subjects
Published
New York : McGraw-Hill Education [2018]
Language
English
Main Author
Howard Mark Schilit, 1952- (author)
Other Authors
Jeremy Perler (author), Yoni Engelhart
Edition
Fourth edition
Item Description
Includes index.
"25th anniversary"--Cover.
Physical Description
xiii, 316 pages ; 24 cm
ISBN
9781260117264
  • Preface: Reflections on My Last 25 Years
  • Part 1. Establishing the Foundation
  • 1. 25 Years of Shenanigans
  • 2. Just Touch Up the X-Rays
  • Part 2. Earnings Manipulation Shenanigans
  • 3. Earnings Manipulation Shenanigan No. 1: Recording Revenue Too Soon
  • 4. Earnings Manipulation Shenanigan No. 2: Recording Bogus Revenue
  • 5. Earnings Manipulation Shenanigan No. 3: Boosting Income Using One-Time or Unsustainable Activities
  • 6. Earnings Manipulation Shenanigan No. 4: Shifting Current Expenses to a Later Period
  • 7. Earnings Manipulation Shenanigan No. 5: Employing Other Techniques to Hide Expenses or Losses
  • 8. Earnings Manipulation Shenanigan No. 6: Shifting Current Income to a Later Period
  • 9. Earnings Manipulation Shenanigan No. 7: Shifting Future Expenses to the Current Period
  • Part 3. Cash Flow Shenanigans
  • 10. Cash Flow Shenanigan No. 1: Shifting Financing Cash Inflows to the Operating Section
  • 11. Cash Flow Shenanigan No. 2: Moving Operating Cash Outflows to Other Sections
  • 12. Cash Flow Shenanigan No. 3: Boosting Operating Cash Flow Using Unsustainable Activities
  • Part 4. Key Metric Shenanigans
  • 13. Key Metric Shenanigan No. 1: Showcasing Misleading Metrics That Overstate Performance
  • 14. Key Metric Shenanigan No. 2: Distorting Balance Sheet Metrics to Avoid Showing Deterioration
  • Part 5. Acquisition Accounting Shenanigans
  • 15. Acquisition Accounting Shenanigan No. 1: Artificially Boosting Revenue and Earnings
  • 16. Acquisition Accounting Shenanigan No. 2: Inflating Reported Cash Flow
  • 17. Acquisition Accounting Shenanigan No. 3: Manipulating Key Metrics
  • Part 6. Putting It All Together
  • 18. The Unraveling
  • 19. The Forensic Mindset
  • Index
  • Acknowledgments