Financial Shenanigans

Posted on 27 March 2017 by Howard M. Schilit

Presents tools that one who is potentially affected by misleading business valuations can use to research and read financial reports, and to identify early warning signs of a company s problems This work contains chapters, data, and research that reveal contemporary shenanigans that have been known to fool even veteran researchers. New Download Financial Shenanigans [ By ] Howard M. Schilit [ Kindle ePUB or eBook ] – kino-fada.fr Financial Shenanigans is by Howard Schilit, president of the Center for Financial Research and Analysis It is a very readable step by step guide to detecting fraud by reading financial statements.Most of the big corporate scandals in the past few years have been in one way or another accounting scandals Either accounting was the primary method of committing fraud, or else accounting was used to cover up other malfeasance Schilit identifies seven shenanigans and the ways they are typically p Financial Shenanigans is by Howard Schilit, president of the Center for Financial Research and Analysis It is a very readable step by step guide to detecting fraud by reading financial statements.Most of the big corporate scandals in the past few years have been in one way or another accounting scandals Either accounting was the primary method of committing fraud, or else accounting was used to cover up other malfeasance Schilit identifies seven shenanigans and the ways they are typically performed They are 1 Recording revenue too soon or of questionable quality2 Recording bogus revenue3 Boosting income with one time gains4 Shifting a current expense to a later or earlier period5 Failing to record or improperly reducing liabilities6 Shifting current revenue to a later period7 Shifting future expenses to the current period as a special chargeAll of this has to do with accounting arcana, which is what makes these kinds of scandals so opaque t...Read this book for my audit 2 class Really amazing how many sneaky ways companies have of trying to show improved performance No wonder so much fraud is never caught it s got to be hard to find a lot of this stuff Another thing that really surprised me was the number of example companies used in the book other than the big obvious ones There were companies who had gotten in trouble with the SEC for all kinds of things that I hadn t even heard about No wonder everyone always talks about Read this book for my audit 2 class Really amazing how many sneaky ways companies have of trying to show improved performance No wonder so much fraud is never caught it s got to be hard to find a lot of this stuff Another thing that really surprised me was the number of example companies used in the book other than the big obvious ones There were companies who had gotten in trouble with ...A solid basic book on what to look for when analyzing the shenanigans of a company It gave me a few good ideas on adjusting my process I woudl recommend to those that are learning to become skeptics of management teams and earnings releases.Reads like a novel with the content of a textbook.Very informative And surprisingly entertaining, though mostly to chuckle at the incredible ways that companies would cheat gullible investors I liked how the authors used real life examples e.g., Enron, WorldCom, etc t...This book was a fun read.A must read for financial analysts and investors I found this book useful even as I read it after completing my CFA The author describes most common accounting tricks management may use to manipulate fin reportings, he names signs of a possible accounting fraud as red flags The book is full of recent real life examples, some humour also presents There is a usefull summary of all technics in the book s end.Main lessons I learned from the book are 1 you should always be sceptiacal about an A must read for financial analysts and investors I found this book useful even as I ...An excellent book The author goes on a step by step investigation of a wide array of possible accounting manipulations by fraudulent or ill intentioned companies After reading it, you ll learn to be healthily skeptical of quarterly results and conference calls.For me, an interesting lesson to be taken out of this book is how it s so easy for management to trick investors in a given quarter if they re willing to do so, even if you ve read this book before oh boy, accounting can be so easily m An excellent book The author goes on a step by step investigation of a wide array of possible accounting manipulations by fraudulent or ill intentioned companies After reading it, you ll learn to be he...Pros Demonstrated various ways on how people do their financial gimmicks to look good even at bad times Explanation is easy to grasp Highly creative and mind blowing Various real life examples to help relate to real world situations, even in companies that you thought were clean.Cons Too judgemental and unforgiving in some cases Disagree with some finger pointing during the case study Too whiny to the point of annoyance Various blind man can also see methods can be done withou Pros Demonstrated various ways on how people do their financial gimmicks to look good even at bad times Explanation is easy to grasp Highly creative and mind blowing Various real life examples to help relate to real world situations, even in companies that you thought were clean.Cons Too judgemental and unforgiving in some cases Disagree with some finger pointing during the case study Too whiny to the point of annoyance Various blind man can also see methods can b...Real life examples of financial fraud as seen through financial statements I would warn readers about taking an assumption that because a company s inventory levels, for example, have increased as a percentage of sales that the company is necessarily concealing fraud This is a bookabout yellow flags in financial statements a non zero probability of something odd going on rather than certain fraud detection I think what s learned in this book must be seen through the eyes of probabilit Real life examples of financial fraud as seen through financial statements I would warn readers about taking an assumption that because a company s inventory levels, for example, have increased as a percentage of sales that the company is necessarily concealing fraud This is a bookabout yellow flags in financial statements a non zero probability of something odd going on rather than certain fraud detection I think what s learned in this book must be seen through the e...

English
27 March 2017

Howard M. Schilit