Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, Third Edition - How to Detect Accounting Gimmicks and Fraud in Financial Reports,  (English, Paperback, Schilit Howard)

In Financial Shenanigans : How To Detect Accounting Gimmicks And Fraud In Financial Reports, Howard Schilit discusses the various manipulation shenanigans and points to specific examples of how companies use financial statements to disguise the economic reality.

Summary Of The Book

With the wave of accounting frauds and restatements on the rise over the last decade, this book introduces the readers to the world of corporate chicanery and the many new techniques that the companies use to mislead investors.

Financial Shenanigans : How To Detect Accounting Gimmicks And Fraud In Financial Reports written by Howard Schilit expands the discussions of Earnings Manipulation Shenanigans and introduces readers to new categories of shenanigans like cash flow shenanigans and key metrics shenanigans. It also investigates new industries like banks and insurance companies. The book focuses on new regions of the world like Europe and Asia that have been affected by financial frauds.

Financial Shenanigans : How To Detect Accounting Gimmicks And Fraud In Financial Reports aims to expose the various kind of scams that are prevalent today.It provides case studies from real world financial reporting failures and throws light on some of the most shocking frauds in recent times while offering lessons that teach investors how to identify fraudulent cases. The Financial Shenanigans is divided into three categories that is the earnings manipulation shenanigans, cash flow shenanigans, and key metrics shenanigans.

Earnings manipulation shenanigans reveals how companies manipulate the statement of income to report higher revenues, inflated profits, or improperly smoothed income. Cash flow shenanigans discusses tricks used by companies to report misleading high cash flow measures including cash flow from operations and free cash flow. Key metrics shenanigans exposes how companies fool investors by showcasing misleading metrics that are being billed as key measures of business performance or economic health.

From establishing the foundation to putting it all together, the book offers some great tips to avoid bad decisions when looking for long term investments. This informative guide written by recognized experts on the subject is useful for market participants seeking to identify deceptive behaviour in company financial statements. It provides the knowledge and tools needed to spot even the most minor signs of financial shenanigans.

Published in 2010, the book is a bestseller and has been well received by investors, lawyers, and corporate directors.

About Howard Schilit

Also known as “Sherlock Holmes of Accounting” Howard Schilit is a well renowned international leader in the world of forensic accounting and corporate governance. Apart from Financial Shenanigans - How to Detect Accounting Gimmicks and Fraud in Financial Reports third edition, Howard has authored two other editions of Financial Shenanigans. Previously a professor at the American University, he is currently the CEO at the Schilit FSD Group, LLC which he founded.