Financial Shenanigans : How to Detect Accounting Gimmicks and Fraud in Financial Reports / Edition 2

Financial Shenanigans : How to Detect Accounting Gimmicks and Fraud in Financial Reports / Edition 2

by Howard M. Schilit
     
 

ISBN-10: 0071386262

ISBN-13: 9780071386265

Pub. Date: 03/01/2002

Publisher: McGraw-Hill Companies, The

Techniques to uncover and avoid accounting frauds and scams

Inflated profits . . . Suspicious write-offs . . . Shifted expenses . . . These and other dubious financial maneuvers have taken on a contemporary twist as companies pull out the stops in seeking to satisfy Wall Street. Financial Shenanigans pulls back the curtain on the current climate of accounting…  See more details below

Overview

Techniques to uncover and avoid accounting frauds and scams

Inflated profits . . . Suspicious write-offs . . . Shifted expenses . . . These and other dubious financial maneuvers have taken on a contemporary twist as companies pull out the stops in seeking to satisfy Wall Street. Financial Shenanigans pulls back the curtain on the current climate of accounting fraud. It presents tools that anyone who is potentially affected by misleading business valuations­­from investors and lenders to managers and auditors­­can use to research and read financial reports, and to identify early warning signs of a company's problems. A bestseller in its first edition, Financial Shenanigans has been thoroughly updated for today's marketplace. New chapters, data, and research reveal contemporary "shenanigans" that have been known to fool even veteran researchers.

Product Details

ISBN-13:
9780071386265
Publisher:
McGraw-Hill Companies, The
Publication date:
03/01/2002
Edition description:
REV
Pages:
240
Product dimensions:
6.30(w) x 9.30(h) x 1.15(d)

Table of Contents

Preface: Must Be a Sign of the Times
Pt. 1Establishing the Foundation1
Ch. 1You Can Fool Some of the People All of the Time3
Ch. 2Seek and Ye Shall Find23
Ch. 3Searching for Shenanigans41
Pt. 2The Seven Shenanigans61
Ch. 4Shenanigan No. 1: Recording Revenue Too Soon or of Questionable Quality63
Ch. 5Shenanigan No. 2: Recording Bogus Revenue83
Ch. 6Shenanigan No. 3: Boosting Income with One-Time Gains97
Ch. 7Shenanigan No. 4: Shifting Current Expenses to a Later or Earlier Period113
Ch. 8Shenanigan No. 5: Failing to Record or Improperly Reducing Liabilities137
Ch. 9Shenanigan No. 6: Shifting Current Revenue to a Later Period153
Ch. 10Shenanigan No. 7: Shifting Future Expenses to the Current Period As a Special Charge163
Pt. 3Techniques for Detecting Shenanigans177
Ch. 11Database Searching179
Ch. 12Analyzing Financial Reports185
Pt. 4Problem Areas207
Ch. 13Acquisition Accounting Tricks209
Ch. 14Revenue Recognition219
Pt. 5Looking Back ... Looking Forward233
Ch. 15History of Financial Shenanigans235
Ch. 16Leading the Battle to Combat Shenanigans245
Ch. 17As Bad As It Gets259
App. TutorialUnderstanding the Basics of Financial Reporting265
Index288

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