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Financial Shenanigans: How to Detect Accounting Gimmicks Fraud in Financial Reports
Financial Shenanigans How to Detect Accounting Gimmicks Fraud in Financial Reports Author:Howard M. Schilit Written by the man Wall Street Week's Louis Rukeyser calls ``an expert on corporate financial games,'' this no-nonsense guide draws on eye-opening case histories of major companies whose recent accounting ``shenanigans'' brought in millions of investment dollars before they were exposed. Building on the specific lessons learned from these cases,... more » Financial Shenanigans shows investors, lenders, auditors, regulators, and others how to immediately spot such misleading accounting tricks as: Recording revenue prematurely; Recording bogus revenues; Boosting income artificially with one-time gains; Shifting current expenses to a later period; Failing to record or disclose major liabilities; Shifting current income to a later period; Shifting future expenses to the current period. Plus there are tips on checking the balance of inventory, sales, and receivables. . .scrutinizing statements of cash flows. . .and much more!« less