Financial Shenanigans
Financial Shenanigans is an excellent book that helps investors reveal deceptive financial reporting at the most critical time before companies suffer major losses. This book contains chapters, data, and research that tells contemporary shenanigans that have been known to fool even veteran researchers, affected by misleading business valuations and financial reports. Authors Schilit and Perler discusses seven earnings manipulation shenanigans and points to specific examples of how companies use financial statements to disguise economic reality. Financial Shenanigans exposes accounting gimmickry and arming you with the investigative tools investors need to detect Earnings Manipulation Shenanigans, Cash Flow Shenanigans, and Key Metrics Shenanigans.
“Howard Schilit is the authority on forensic accounting. Financial Shenanigans is invaluable reading for market participants seeking to identify deceptive behavior in company financial statements.”
— Julian Robertson, Legendary investor and Founder, Tiger Management
"A must-read! The authors teach forensic financial statement analysis in an easy-to-digest format with lots of war stories. Guaranteed to help investors in their quest to avoid ticking time bombs in their portfolios.”
— Marc A. Siegel, Board Member, Financial Accounting Standards Board
“This is a timeless guide to better understand how financial malfeasance can be spotted early. Financial Shenanigans teaches all of us fraud-detection-made-easy.”
— Jules Kroll, Pioneering private investigator and Founder, Kroll Associates and K2 Global
“Required reading for every investor who desires to avoid financial losses. This new edition is a classic and better than ever.”
— Thornton L. O’glove, Author, Quality of Earnings
“If the original Financial Shenanigans was the Bible of detecting accounting frauds, then this latest version is the Talmud of cooked books."
— Boris Feldman, Partner, Wilson Sonsini Goodrich & Rosati, Palo Alto
“An incisive and entertaining review of the recipes used by corporations and executives to ‘cook the books.’ It’s a must-read for investors, lawyers, corporate directors, and anyone else interested in the integrity of the accounting and governance process.”
— Joseph A. Grundfest, Professor of Law and Business and Co-Director, Rock Center on Corporate Governance, Stanford Law School