{"product_id":"creative-cash-flow-reporting-isbn-9780471469186","title":"Creative Cash Flow Reporting","description":"Successful methodology for identifying earnings-related reporting indiscretions\u003cbr\u003e Creative Cash Flow Reporting and Analysis capitalizes on current concerns with misleading financial reporting on misleading financial reporting. It identifies the common steps used to yield misleading cash flow amounts, demonstrates how to adjust the cash flow statement for more effective analysis, and how to use adjusted operating cash flow to uncover earnings that have been misreported using aggressive or fraudulent accounting practices.\u003cbr\u003e Charles W. Mulford, PhD, CPA (Atlanta, GA), is the coauthor of three books, including the bestselling The Financial Numbers Game: Identifying Creative Accounting Practices. Eugene E. Comiskey, PhD, CPA, CMA (Atlanta, GA), is the coauthor of the bestselling The Financial Numbers Game: Identifying Creative Accounting Practices. \u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAbout the Authors xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Seeking Sustainable Cash Flow 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAn Artificial Boost to Operating Cash Flow 3\u003c\/p\u003e \u003cp\u003eClassifying Cash Flow 5\u003c\/p\u003e \u003cp\u003eSustainable Cash Flow 9\u003c\/p\u003e \u003cp\u003eCreative Cash Flow Reporting 18\u003c\/p\u003e \u003cp\u003eIgnoring the Statement of Cash Flows 29\u003c\/p\u003e \u003cp\u003eCash Flow Analysis 30\u003c\/p\u003e \u003cp\u003ePlan of This Book 32\u003c\/p\u003e \u003cp\u003eSummary 33\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Structure of the Statement of Cash Flows 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistorical Background 38\u003c\/p\u003e \u003cp\u003eArrival of the Statement of Cash Flows 49\u003c\/p\u003e \u003cp\u003eNon-GAAP Measures of Cash Operating Performance 68\u003c\/p\u003e \u003cp\u003eInternational Differences in the Statement of Cash Flows 73\u003c\/p\u003e \u003cp\u003eSummary 74\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Is it Operating or Investing Cash Flow? 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvesting Cash Flow 86\u003c\/p\u003e \u003cp\u003eGAAP Flexibility: Is it Operating or Investing Cash Flow? 91\u003c\/p\u003e \u003cp\u003eBeyond the Boundaries of GAAP 114\u003c\/p\u003e \u003cp\u003eSummary 116\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Is it Operating or Financing Cash Flow? 121\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancing Cash Flow 125\u003c\/p\u003e \u003cp\u003eGAAP Flexibility: Is it Operating or Financing Cash Flow? 131\u003c\/p\u003e \u003cp\u003eBeyond the Boundaries of GAAP 154\u003c\/p\u003e \u003cp\u003eSummary 155\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Income Taxes and the Statement of Cash Flows 159\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTax Reporting Essentials 160\u003c\/p\u003e \u003cp\u003eClassification of Tax-Related Cash Flow 166\u003c\/p\u003e \u003cp\u003eNonrecurring Income Tax Cash Flows 180\u003c\/p\u003e \u003cp\u003eSummary 203\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Nonrecurring Sources and Uses of Operating Cash Flow 209\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCharacteristics of Nonrecurring Items of Operating Cash Flow 211\u003c\/p\u003e \u003cp\u003eExamples of Nonrecurring Cash Sources and Uses 211\u003c\/p\u003e \u003cp\u003eManagement Identification of Nonrecurring Operating Cash Flow 213\u003c\/p\u003e \u003cp\u003eLocating Nonrecurring Items of Operating Cash Flow 218\u003c\/p\u003e \u003cp\u003eCash Flow Tracking 231\u003c\/p\u003e \u003cp\u003eSummary 235\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Measuring Sustainable Operating Cash Flow 241\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSustainable Operating Cash Flow 242\u003c\/p\u003e \u003cp\u003eCalibrating Operating Cash Flow Adjustments 244\u003c\/p\u003e \u003cp\u003eMeasuring Sustainable Operating Cash Flow 252\u003c\/p\u003e \u003cp\u003eCompleted Sustainable Operating Cash Flow Worksheet 257\u003c\/p\u003e \u003cp\u003eFrequency and Size of Adjustment Items 262\u003c\/p\u003e \u003cp\u003eSummary 265\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Using Operating Cash Flow to Detect Earnings Problems 269\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRelationship between Earnings and Operating Cash Flow 271\u003c\/p\u003e \u003cp\u003eEarnings Supported by Artificial Means 284\u003c\/p\u003e \u003cp\u003eExcess Cash Margin 290\u003c\/p\u003e \u003cp\u003eSummary 300\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Analyzing Operating Cash Flow 305\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCash Flow Analysis Statement 308\u003c\/p\u003e \u003cp\u003eUsing the Cash Flow Analysis Statement 314\u003c\/p\u003e \u003cp\u003eCash Flow Drivers 325\u003c\/p\u003e \u003cp\u003eCloser Look at Core Operating Cash Flow 336\u003c\/p\u003e \u003cp\u003eSummary 341\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Understanding Free Cash Flow 345\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUses of Free Cash Flow 348\u003c\/p\u003e \u003cp\u003eWhat is Free Cash Flow? 358\u003c\/p\u003e \u003cp\u003eFree Cash Flow to Common Equity: A Closer Look 362\u003c\/p\u003e \u003cp\u003eCapital Expenditures 370\u003c\/p\u003e \u003cp\u003eAcquisitions and Free Cash Flow 375\u003c\/p\u003e \u003cp\u003eSummary 375\u003c\/p\u003e \u003cp\u003eGlossary 379\u003c\/p\u003e \u003cp\u003eSubject Index 395\u003c\/p\u003e \u003cp\u003eCompany Index 409\u003c\/p\u003e \"This book is a must-have reference for anyone interested in serious financial statement analysis and uncovering manipulations to earnings from creative reporting of cash flows.\" (\u003ci\u003eGraziado Business Report.com\u003c\/i\u003e; Issue 4, Vol 10, 2007)  \u003cp\u003e\u003cb\u003eCHARLES W. MULFORD, P\u003csmall\u003eH\u003c\/small\u003eD, CPA,\u003c\/b\u003e is Invesco Chair and Professor of Accounting in the College of Management at the Georgia Institute of Technology in Atlanta. He has coauthored three books, including the bestselling \u003ci\u003eThe Financial Numbers Game,\u003c\/i\u003e published by Wiley. He has appeared on numerous broadcast networks, including CNBC, ABC News, and Bloomberg TV. He regularly consults with major domestic and international commercial banks and money management firms on issues related to credit and investment decision-making. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eEUGENE E. COMISKEY, P\u003csmall\u003eH\u003c\/small\u003eD, CPA, CMA,\u003c\/b\u003e is Associate Dean for Faculty and Research, Callaway Chair, and Professor of Accounting in the College of Management at the Georgia Institute of Technology in Atlanta. For more than twenty years, he has consulted with commercial banks around the world. He is the coauthor of three books, including \u003ci\u003eThe Financial Numbers Game,\u003c\/i\u003e and has published numerous papers in a wide range of professional and academic journals.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eCREATIVE \u003ci\u003ecash flow\u003c\/i\u003e REPORTING\u003cbr\u003e Uncovering Sustainable Financial Performance\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eContrary to popular opinion, managers have a degree of discretion in reporting operating cash flow. In this era, when the trustworthiness of reported earnings is in question, a reliance on as-reported operating cash flow is not the convenient substitute measure of financial performance that it might appear to be. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eCreative Cash Flow Reporting: Uncovering Sustainable Financial Performance\u003c\/i\u003e identifies how the routine application of either current accounting standards or other measures employed by some companies can yield misleading operating cash flow statements in financial analysis. \u003c\/p\u003e\u003cp\u003eWhen adjusted using the methods described in this clear guide, operating cash flow is a more effective tool for uncovering reported earnings that have been increased through questionable means. Premature or fictitious revenue will result in growing receivables but not cash. Also, steps taken to misstate inventory might boost gross profit and net income but will not reflect cash flow. The same is true about aggressive cost capitalization and other creative accounting acts. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eCreative Cash Flow Reporting\u003c\/i\u003e demonstrates how to use adjusted operating cash flow to uncover earnings that have been misreported by even the most aggressive and fraudulent accounting practices. \u003c\/p\u003e\u003cp\u003eReal-world practice is demonstrated through the results of a study designed to adjust the cash flow statements of the S\u0026amp;P 100 for the years 2000, 2001, and 2002. Many \u003c\/p\u003e\u003cp\u003ecompanies included in this sample had significant differences between reported and adjusted operating cash flow. The book is illustrated using hundreds of actual and recent company financial reports and applies recommendations to a large sample of actual companies. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eCreative Cash Flow Reporting: Uncovering Sustainable Financial Performance\u003c\/i\u003e is a must-have reference for serious readers of financial statements, including equity analysts and investors, credit professionals, serious individual investors, professional money managers, and anyone interested in uncovering true sustainable financial performance.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989002600677,"sku":"NP9780471469186","price":47.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780471469186.jpg?v=1761782389","url":"https:\/\/k12savings.com\/es\/products\/creative-cash-flow-reporting-isbn-9780471469186","provider":"K12savings","version":"1.0","type":"link"}