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内容简介

Praise for The Financial Numbers Game "So much for the notion'those who can, do-those who can't, teach.' Mulford and Comiskeyfunction successfully both as college professors and real-worldfinancial mercenaries. These guys know their balance sheets. TheFinancial Numbers Game should serve as a survival manual for bothserious individual investors and industry pros who study and actupon the interpretation of financial statements. This unique blendof battle-earned scholarship and quality writing is amust-read/must-have reference for serious financial statementanalysis." -Bob Acker, Editor/Publisher, The Acker Letter"Wall Street's unforgiving attention to quarterly earningspresents ever-increasing pressure on CFOs to manage earnings andexpectations. The Financial Numbers Game provides a clearexplanation of the ways in which management can stretch, bend, andbreak accounting rules to reach the desired bottom line. This armsthe serious investor or financial analyst with the healthyskepticism required to drive beyond reported results to a clearunderstanding of a firm's true performance." -Mark Hurley, ManagingDirector, Training and Development Global Corporate and InvestmentBanking, Bank of America

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<div>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
<p>"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</p>
<p>"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.</p>
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作者简介

Charles W. Mulford is the Invesco Chair and Professor of Accounting and Eugene E. Comiskey is the Callaway Chair and Professor of Accounting in the DuPree College of Management at the Georgia Institute of Technology in Atlanta. Both professors have doctorates in accounting and are professionally qualified as certified public accountants. In addition to their work at Georgia Tech, they actively consult with lenders at commercial banks in the United States and abroad. Professors Mulford and Comiskey have published articles on financial reporting and analysis issues in leading academic journals in the accounting and finance fields as well as in such widely read professional journals as the Commercial Lending Review and the Financial Analysts' Journal. This is the authors' third book. Their first, Financial Warnings, published in 1996, identifies the warning signs of future corporate earnings difficulties. Their second, Guide to Financial Reporting and Analysis, seeks to simplify the complexities of current-day generally accepted accounting principles as an aid to practicing financial analysts and other users of financial statements.

目　　录

1 Financial Numbers Game. Rewards of the Game. ClassifyingCreative Accounting Practices. Plan of This Book. Summary.Glossary. Notes. 2 How the Game Is Played. Accounting Policy Choiceand Application. Fraudulent Financial Reporting. Cleaning Up afterthe Game. Clarifying Terminology. Summary. Glossary. Notes. 3Earnings Management: A Closer Look. What Is Earnings Management?Incentives and Conditions for Earnings Management. EarningsManagement Techniques. Evidence of Earnings Management.Effectiveness of Earnings Management. Is Earnings Management Goodor Bad? Summary. Glossary. Notes. 4 The SEC Responds. TheChairman's Speech. The Action Plan. Subsequent Developments.Enforcing the Securities Laws. Summary. Glossary. Notes. 5Financial Professionals Speak Out. Survey of FinancialProfessionals. Survey Results. Summary. Glossary. Notes. 6Recognizing Premature or Fictitious Revenue. Is It Premature orFictitious Revenue? When Should Revenue Be Recognized? DetectingPremature or Fictitious Revenue. Checklist to Detect Premature orFictitious Revenue. Summary. Glossary. Notes. 7 AggressiveCapitalization and Extended Amortization Policies. CostCapitalization. Detecting Aggressive Cost Capitalization Policies.Amortizing Capitalized Costs. Detecting Extended AmortizationPeriods. Checklist to Detect Aggressive Capitalization and ExtendedAmortization Policies. Summary. Glossary. Notes. 8 MisreportedAssets and Liabilities. Link with Reported Earnings. BoostingShareholders' Equity. Overvalued Assets. Undervalued Liabilities.Checklist to Detect Misreported Assets and Liabilities. Summary.Glossary. Notes. 9 Getting Creative with the Income Statement:Classification and Disclosure. Current Income StatementRequirements and Practices. Reporting Comprehensive Income.Creative Income Statement Classifications. Creativity with OtherAspects of the Income Statement. Summary. Glossary. Notes. 10Getting Creative with the Income Statement: Pro-Forma Measures ofEarnings. Recasting the Bottom Line: Pro-Forma Earnings Measures.Summary. Glossary. Notes. 11 Problems with Cash Flow Reporting.Reporting Cash Flow. Problems with Reported Operating Cash Flow.Using Operating Cash Flow to Detect Creative Accounting Practices.Checklist for Using Operating Cash Flow to Detect CreativeAccounting Practices. Summary. Glossary. Notes. Subject Index.Company Index.

<p>1 Financial Numbers Game. Rewards of the Game. Classifying
Creative Accounting Practices. Plan of This Book. Summary.
Glossary. Notes. 2 How the Game Is Played. Accounting Policy Choice
and Application. Fraudulent Financial Reporting. Cleaning Up after
the Game. Clarifying Terminology. Summary. Glossary. Notes. 3
Earnings Management: A Closer Look. What Is Earnings Management?
Incentives and Conditions for Earnings Management. Earnings
Management Techniques. Evidence of Earnings Management.
Effectiveness of Earnings Management. Is Earnings Management Good
or Bad? Summary. Glossary. Notes. 4 The SEC Responds. The
Chairman's Speech. The Action Plan. Subsequent Developments.
Enforcing the Securities Laws. Summary. Glossary. Notes. 5
Financial Professionals Speak Out. Survey of Financial
Professionals. Survey Results. Summary. Glossary. Notes. 6
Recognizing Premature or Fictitious Revenue. Is It Premature or
Fictitious Revenue? When Should Revenue Be Recognized? Detecting
Premature or Fictitious Revenue. Checklist to Detect Premature or
Fictitious Revenue. Summary. Glossary. Notes. 7 Aggressive
Capitalization and Extended Amortization Policies. Cost
Capitalization. Detecting Aggressive Cost Capitalization Policies.
Amortizing Capitalized Costs. Detecting Extended Amortization
Periods. Checklist to Detect Aggressive Capitalization and Extended
Amortization Policies. Summary. Glossary. Notes. 8 Misreported
Assets and Liabilities. Link with Reported Earnings. Boosting
Shareholders' Equity. Overvalued Assets. Undervalued Liabilities.
Checklist to Detect Misreported Assets and Liabilities. Summary.
Glossary. Notes. 9 Getting Creative with the Income Statement:
Classification and Disclosure. Current Income Statement
Requirements and Practices. Reporting Comprehensive Income.
Creative Income Statement Classifications. Creativity with Other
Aspects of the Income Statement. Summary. Glossary. Notes. 10
Getting Creative with the Income Statement: Pro-Forma Measures of
Earnings. Recasting the Bottom Line: Pro-Forma Earnings Measures.
Summary. Glossary. Notes. 11 Problems with Cash Flow Reporting.
Reporting Cash Flow. Problems with Reported Operating Cash Flow.
Using Operating Cash Flow to Detect Creative Accounting Practices.
Checklist for Using Operating Cash Flow to Detect Creative
Accounting Practices. Summary. Glossary. Notes. Subject Index.
Company Index.</p>

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媒体评论

"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)

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