Listed company financial fraud and identification

Author: (USA) Mulford C. W. et al. / Cheng Lian et al.
Publisher:
Publish Date: 2005-04-01
Features: "Contrary to the notion that 'the able fight in the field, the incapable teach,' Mulford and Komisarik have successfully navigated both careers as university professors and successful entrepreneurs. They understand the balance sheet of their own lives. Financial Fraud and Detection in Public Companies serves well as a resource for professional investors and practitioners who rely on financial number understanding. The authors perfectly combine high-level academia with high-quality writing, making this book a must-read and reference for professional financial analysts." — Bob Ack. To mask declining profits, some companies exploit the flexibility in accounting principles to manipulate financial statements, even resorting to deceptive means. This book details various methods that can be used to distort financial conditions, helping readers see the true face of financial results through the statements. At the same time, it also introduces certain loopholes in GAAP and how companies engage in 'gray area' practices. The authors provide a relatively professional analysis of creative accounting techniques, with the following advantages:
Examples cited are all from real-life scenarios;
Signs of income manipulation are provided;
Quick reference tables for various types of accounting crimes are listed;
Professional opinions from analysts, CFOs (Chief Financial Officers), and CPAs (Certified Public Accountants) are included;
It benefits anyone who is interested in understanding financial conditions.
This book offers a comprehensive interpretation of financial statements in today's practice, serving as a guide to discover various creative accounting techniques and protect against their harm.