--- product_id: 1705117 title: "Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, 3rd Edition" price: "302.71 DT" currency: TND in_stock: true reviews_count: 13 url: https://www.desertcart.tn/products/1705117-financial-shenanigans-how-to-detect-accounting-gimmicks-and-fraud-in store_origin: TN region: Tunisia --- # Uncovers cash flow tricks Detects earnings manipulation Exposes misleading key metrics Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, 3rd Edition **Price:** 302.71 DT **Availability:** ✅ In Stock ## Summary > 🕵️‍♂️ Outsmart the numbers, protect your portfolio! ## Quick Answers - **What is this?** Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, 3rd Edition - **How much does it cost?** 302.71 DT with free shipping - **Is it available?** Yes, in stock and ready to ship - **Where can I buy it?** [www.desertcart.tn](https://www.desertcart.tn/products/1705117-financial-shenanigans-how-to-detect-accounting-gimmicks-and-fraud-in) ## Best For - Customers looking for quality international products ## Why This Product - Free international shipping included - Worldwide delivery with tracking - 15-day hassle-free returns ## Key Features - • **Trusted by Industry Experts:** Endorsed by legendary investors, forensic accountants, and corporate governance leaders. - • **Your Ultimate Financial Shield:** Turn complex SEC filings and footnotes into actionable intelligence to avoid costly losses. - • **Stay Ahead of Corporate Trickery:** Updated with the latest sophisticated fraud techniques used by companies worldwide. - • **Empower Your Investment Decisions:** Gain deep insights into financial statements beyond surface-level numbers. - • **Master the Art of Financial Forensics:** Learn to spot deceptive accounting gimmicks before they impact your portfolio. ## Overview Financial Shenanigans, 3rd Edition, is the definitive guide by forensic accounting expert Howard Schilit that reveals the latest and most sophisticated methods companies use to manipulate financial reports. Packed with real-world examples and practical tools, this book equips investors, finance professionals, and executives to detect earnings, cash flow, and key metric frauds early—helping you safeguard your investments and make smarter financial decisions. ## Description From the “ Sherlock Holmes of Accounting,”the tools you need to stay a step ahead of the crooks “Howard Schilit is the authority on forensic accounting. Financial Shenanigans is invaluable readingfor 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 withlots of war stories. Guaranteed to help investors in their questto 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 of 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 latestversion is the Talmud of cooked books. Regulators, audit committee members, and business journalistsshould be required to read this work if they are involved in public companies.” Boris Feldman, partner, Wilson Sonsini Goodrich & Rosati, Palo Alto “An incisive and entertaining review of the recipes used by corporations and executives to ‘cook thebooks.’ It’s a must-read for investors, lawyers, corporate directors, and anyone else interested in theintegrity of the accounting and governance process.” Joseph A. Grundfest, professor of law and business and codirector,Rock Center on Corporate Governance, Stanford Law School About the Book: With major financial scandals poppingup in greater numbers—and with moreinevitably on the way—it has never been moreimportant for you to understand what dishonestcompanies do to trick investors.Since the early 1990s, Financial Shenanigans has been helping investors unearth deceptivefinancial reporting at the most critical time—before they suffer major losses. Now, the thirdedition broadens its focus to include the newest,most sophisticated techniques companiesuse to mislead investors. Referred to as the “Sherlock Holmes ofAccounting” by BusinessWeek , Howard Schilitand renowned forensic accounting expertJeremy Perler take you deeper into the corporatebag of tricks, exposing new levels ofaccounting gimmickry and arming you withthe investigative tools you need to detect: Earnings Manipulation Shenanigans: Learnthe latest tricks companies use to exaggeraterevenue and earnings. Cash Flow Shenanigans: Discover new techniquesdevised by management that allow it tomanipulate cash flow as easily as earnings. Key Metrics Shenanigans: See how companiesuse misleading “key”metrics to fool investorsabout their financial performance. Financial Shenanigans brings you completelyup to date on accounting chicanery in the globalmarkets, shining a light on the most shockingfrauds and financial reporting miscreants.This insightful, detailed guide written by recognizedexperts on the subject provides theknowledge and tools you need to spot even themost subtle signs of financial shenanigans. Review: A must read for anyone doing financial statement analysis - I recently read through most of the book written by Howard Schilit. It was a very rewarding experience and I will keep going back to this book frequently as I read through annual reports for public companies. To set the expectations, this book is useful in looking behind the numbers and understanding the real significance of the swings year over year( or quarter over quarter). It will empower you in a whole different way and you will be able to get more insight into the operational strength/growth of the underlying company. I have been reading 10-K and 10-Q reports for over 3 years now. I never buy a stock unless I have read through the recent filings. This helps me understand the state of the business, the growth prospects and to some extend the risks in the sector. I would say though, out of experience, that just looking at the numbers is not going to help much. Doing the vertical and horizontal analysis will give more insight as to the growth of the company. For sometime now I was searching for books that shed light on the analysis of "Statement of Cash flows", but I did not find any. After reading this one, I no longer need to refer to any book for analysis of annual and quarterly reports. The author has done an amazing job of explaining how companies can manipulate( or outright break) SEC guidelines for accounting rules. The book provides easy to understand guidelines to review the company reports with a new perspective and help build our own framework for the analysis. If you understand basic accounting, what 'Income Statement', ' Balance Sheet' and "Statement of Cash Flows' stand for, you will benefit largely for reading this book. You will mostly hear people say that its very important to read the section 7 ( or 7A) in the annual reports. This is where the management explains the growth of the company, talks about the strategy and future plans. This is the place where management tells you( the investor) what they want you to know. And they hide all the important stuff ( like revenue recognition changes, changes to depreciation schedule etc) in the foot notes, where we rarely go ( they are at the end of the reports which are already about 100 pages long). What I found surprising is that its so easy to manipulate the data to portray a stronger operational growth for the company. One word of caution though, this is not a read and forget exercise. Once you read the book and understand the shenanigans, you will have to put considerable effort to read behind the numbers. I would say that you will require at least twice as much time to do this as compared to the time you invested earlier. But take my word, that it will be well worth it and you can save your portfolio from the shock when the companies are penalized for these tricks. Review: Essential Tool for any Finance/Accounting Professional - As a financial accountant, I have special appreciation for "Financial Shenanigans" by Schilit and Perler. Like the preface mentions, this book truly provides the "post-mortem analysis" it promises. It clearly narrates the most infamous financial reporting failures in history (US, Europe, & Asia), and the lessons such fraudulent mistakes offer those who wish to learn. Not only does it serve as a quick reference for all possible fraudulent methods to date, but also as a review of core financial accounting principles (US GAAP) and basic performance ratio calculations. In addition, it is intelligently written, and easy to follow and comprehend. More specifically, it also employs humor in a smart, witty manner. It does a great job of drawing in readers who appreciate reading up-to-date, practical accounting/finance material they can apply to their professions (outside of academia). Best of all, it isn't dry, but engaging! I expect my copy will become worn and dog-eared within a short period of time, as this book has become my most trusted coworker and best companion at the office. I am looking forward to following these two authors and reading more of their upcoming work. My personal opinion, of course, but perhaps more MBA's and senior executives ought to read this book and educate themselves! We're on to you, C-suite! Brilliant, useful, and insightful! Well done! 10 out of five stars! ## Features - New - Mint Condition - Dispatch same day for order received before 12 noon - Guaranteed packaging - No quibbles returns ## Technical Specifications | Specification | Value | |---------------|-------| | Best Sellers Rank | #391,918 in Books ( See Top 100 in Books ) #210 in Financial Accounting (Books) #749 in Introduction to Investing | | Customer Reviews | 4.6 out of 5 stars 184 Reviews | ## Images ![Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, 3rd Edition - Image 1](https://m.media-amazon.com/images/I/91+c-TjUeHL.jpg) ## Customer Reviews ### ⭐⭐⭐⭐⭐ A must read for anyone doing financial statement analysis *by K***M on August 1, 2011* I recently read through most of the book written by Howard Schilit. It was a very rewarding experience and I will keep going back to this book frequently as I read through annual reports for public companies. To set the expectations, this book is useful in looking behind the numbers and understanding the real significance of the swings year over year( or quarter over quarter). It will empower you in a whole different way and you will be able to get more insight into the operational strength/growth of the underlying company. I have been reading 10-K and 10-Q reports for over 3 years now. I never buy a stock unless I have read through the recent filings. This helps me understand the state of the business, the growth prospects and to some extend the risks in the sector. I would say though, out of experience, that just looking at the numbers is not going to help much. Doing the vertical and horizontal analysis will give more insight as to the growth of the company. For sometime now I was searching for books that shed light on the analysis of "Statement of Cash flows", but I did not find any. After reading this one, I no longer need to refer to any book for analysis of annual and quarterly reports. The author has done an amazing job of explaining how companies can manipulate( or outright break) SEC guidelines for accounting rules. The book provides easy to understand guidelines to review the company reports with a new perspective and help build our own framework for the analysis. If you understand basic accounting, what 'Income Statement', ' Balance Sheet' and "Statement of Cash Flows' stand for, you will benefit largely for reading this book. You will mostly hear people say that its very important to read the section 7 ( or 7A) in the annual reports. This is where the management explains the growth of the company, talks about the strategy and future plans. This is the place where management tells you( the investor) what they want you to know. And they hide all the important stuff ( like revenue recognition changes, changes to depreciation schedule etc) in the foot notes, where we rarely go ( they are at the end of the reports which are already about 100 pages long). What I found surprising is that its so easy to manipulate the data to portray a stronger operational growth for the company. One word of caution though, this is not a read and forget exercise. Once you read the book and understand the shenanigans, you will have to put considerable effort to read behind the numbers. I would say that you will require at least twice as much time to do this as compared to the time you invested earlier. But take my word, that it will be well worth it and you can save your portfolio from the shock when the companies are penalized for these tricks. ### ⭐⭐⭐⭐⭐ Essential Tool for any Finance/Accounting Professional *by B***M on October 4, 2010* As a financial accountant, I have special appreciation for "Financial Shenanigans" by Schilit and Perler. Like the preface mentions, this book truly provides the "post-mortem analysis" it promises. It clearly narrates the most infamous financial reporting failures in history (US, Europe, & Asia), and the lessons such fraudulent mistakes offer those who wish to learn. Not only does it serve as a quick reference for all possible fraudulent methods to date, but also as a review of core financial accounting principles (US GAAP) and basic performance ratio calculations. In addition, it is intelligently written, and easy to follow and comprehend. More specifically, it also employs humor in a smart, witty manner. It does a great job of drawing in readers who appreciate reading up-to-date, practical accounting/finance material they can apply to their professions (outside of academia). Best of all, it isn't dry, but engaging! I expect my copy will become worn and dog-eared within a short period of time, as this book has become my most trusted coworker and best companion at the office. I am looking forward to following these two authors and reading more of their upcoming work. My personal opinion, of course, but perhaps more MBA's and senior executives ought to read this book and educate themselves! We're on to you, C-suite! Brilliant, useful, and insightful! Well done! 10 out of five stars! ### ⭐⭐⭐⭐ I find the content of this book good and most of it useful *by L***R on October 17, 2015* As one who invests for long term reliable income using the dividends paid by publicly traded stocks, I find the content of this book good and most of it useful, at least at the conceptual level. The author gives several examples of companies who have accelerated earnings, delayed expenses and booked what should have been operational cash flow as cash flow used for investing activities. This is good and helpful. But what the book does not do is show you where you can find such information in the quarterly or annual shareholder reports. Where would I go to find information that would lead me to understand that the company is selling its A/R and what wording is typically used that would suggest A/R has been sold? And one constructive suggestion to the author....most who will want to read your book are sophisticated enough to know the basics of financial statements and are likely interested in getting into the 'meat' of the shenanigan. But you often begin chapters or descriptive sections of a chapter with somewhat lengthy quaint metaphorical examples as a lead in to the shenanigan you're about to address. As I progressed through the book, I found this distracting and would skip those pages. I appreciate keeping the book interesting and non-boring, but sometimes a little bit of analogous description goes a long way :-) Otherwise, this is a very good book on this subject. ## Frequently Bought Together - Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, 3rd Edition - Creative Cash Flow Reporting: Uncovering Sustainable Financial Performance - Quality of Earnings --- ## Why Shop on Desertcart? - 🛒 **Trusted by 1.3+ Million Shoppers** — Serving international shoppers since 2016 - 🌍 **Shop Globally** — Access 737+ million products across 21 categories - 💰 **No Hidden Fees** — All customs, duties, and taxes included in the price - 🔄 **15-Day Free Returns** — Hassle-free returns (30 days for PRO members) - 🔒 **Secure Payments** — Trusted payment options with buyer protection - ⭐ **TrustPilot Rated 4.5/5** — Based on 8,000+ happy customer reviews **Shop now:** [https://www.desertcart.tn/products/1705117-financial-shenanigans-how-to-detect-accounting-gimmicks-and-fraud-in](https://www.desertcart.tn/products/1705117-financial-shenanigans-how-to-detect-accounting-gimmicks-and-fraud-in) --- *Product available on Desertcart Tunisia* *Store origin: TN* *Last updated: 2026-09-10*