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Financial Shenanigans - Howard Schilit


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[amazonsearch]Financial Shenanigans[/amazonsearch]

 

I'm a few chapters in and I like it. I also got Quality of Earnings at the same time, but haven't started that one yet.

 

It's certainly filing a hole in my knowledge about accounting. I like how a lot of the book seems to be based on real world examples. This is the kind of stuff that is best learn by case study, IMHO.

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[amazonsearch]Financial Shenanigans[/amazonsearch]

 

I'm a few chapters in and I like it. I also got Quality of Earnings at the same time, but haven't started that one yet.

 

It's certainly filing a hole in my knowledge about accounting. I like how a lot of the book seems to be based on real world examples. This is the kind of stuff that is best learn by case study, IMHO.

 

What dose IMHO stand for ?

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Read this book probably five or six years ago now, excellent book.  I can see how the case studies are getting a bit out of date.  I keep this book in mind for literally every investment I look at.  I don't expect fraud, I'm just trying to catch things that are a bit out of place. 

 

I like to look at earnings accruals, pace of receivables growth, inventory growth, revenue recognition policies, related party transactions and I always run the income statement past the cash flow statement.

 

Just keeping a few simple rules in mind from the book I've been able to throw out a lot of potential investments.  Maybe I've lost some great opportunities, but I've also saved myself a lot of money, I'm more focused on eliminating losses than shooting for big gains.

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Read this book probably five or six years ago now, excellent book.  I can see how the case studies are getting a bit out of date.

 

The third edition is from 2010, if I recall correctly. Case studies so far are mostly from early 2000s (Enron, Worldcom, Tyco, etc).

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