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The Financial Numbers Game: Detecting Creative Accounting Practices
 
 

The Financial Numbers Game: Detecting Creative Accounting Practices (Hardcover)

by Charles W. Mulford (Author), Eugene E. Comiskey (Author) "With an all-too-frequent occurrence, users of financial statements are shaken with disclosures by corporate managements that certain "accounting irregularities" have been discovered and, as a..." (more)
5.0 out of 5 stars  See all reviews (1 customer review)
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Product details

  • Hardcover: 407 pages
  • Publisher: John Wiley & Sons (1 Mar 2002)
  • Language English
  • ISBN-10: 0471370088
  • ISBN-13: 978-0471370086
  • Product Dimensions: 25.6 x 18.6 x 3.6 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon.co.uk Sales Rank: 638,852 in Books (See Bestsellers in Books)
  • See Complete Table of Contents

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Product Description

Review

"The author′s purpose is "to equip the financial statement reader to better detect the use of creative accounting practices and avoid the equity–investment and credit–granting mistakes." A book for it′s time" (Strategic Finance, March 2002)

"With the collapse of Enron Corp., the January debut of the "Financial Numbers Game" could not have arrived at a more perfect time. The book focuses on educating investors on how to spot "creative accounting Practices." Co–Author Charles W. Mulford outlines a few basic guidelines for detecting–and preventing–creative accounting." (SmartPros/Accounting News and Insights, March 2002)


Product Description

Praise for The Financial Numbers Game

"So much for the notion ′those who can, do–those who can′t, teach.′ Mulford and Comiskey function successfully both as college professors and real–world financial mercenaries. These guys know their balance sheets. The Financial Numbers Game should serve as a survival manual for both serious individual investors and industry pros who study and act upon the interpretation of financial statements. This unique blend of battle–earned scholarship and quality writing is a must–read/must–have reference for serious financial statement analysis."
–Bob Acker, Editor/Publisher, The Acker Letter

"Wall Street′s unforgiving attention to quarterly earnings presents ever–increasing pressure on CFOs to manage earnings and expectations. The Financial Numbers Game provides a clear explanation of the ways in which management can stretch, bend, and break accounting rules to reach the desired bottom line. This arms the serious investor or financial analyst with the healthy skepticism required to drive beyond reported results to a clear understanding of a firm′s true performance."
–Mark Hurley, Managing Director, Training and Development Global Corporate and Investment Banking, Bank of America

"After reading The Financial Numbers Game, I feel as though I′ve taken a master′s course in financial statement analysis. Mulford and Comiskey′s latest book should be required reading for anyone who is serious about fundamentally analyzing stocks."
–Harry Domash, Investing Columnist, San Francisco Chronicle and Publisher, Winning Investing

The Financial Numbers Game identifies the steps businesses may take to misstate financial performance and helps its readers to identify those situations where reported results may not be what they seem.

Inside This Book (Learn More)
First Sentence
With an all-too-frequent occurrence, users of financial statements are shaken with disclosures by corporate managements that certain "accounting irregularities" have been discovered and, as a result, current-and prior-year financial results will need to be revised downward. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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2 of 2 people found the following review helpful:
5.0 out of 5 stars Highly Recommended!, 7 Jun 2004
By Rolf Dobelli "getAbstract.com" (Switzerland) - See all my reviews
(TOP 50 REVIEWER)    (REAL NAME)   
A special note in the preface of this book explains that it went to press just as the Enron story was beginning to break. Three of its chapters provide almost all the information anyone would have needed to spot the problems at Enron, not to mention at the other big corporations whose scandals made recent headlines. Spotting fraud isn't that hard. The authors provide a very useful toolkit that even a novice investor can use. Some of their coverage of the regulatory apparatus will no doubt have to be changed in future editions, as the regulations themselves keep changing, but this enlightening introduction to the nitty-gritty of skeptical financial statement analysis will have enduring utility. It's written by accountants, so it gets a bit plodding in spots, but their anecdotes relieve the tedium and their information is invaluable. We recommend this reality check for every investor's bookshelf, as well as every employee's and every financial reporter's. Anyone who depends on corporate performance or who uses corporate financial statements should read it.
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