Financial Shenanigans: How to Detect Accounting Gimmicks and Fraud in Financial Reports
Date, Time, and Location:
Thursday, December 04, 2003 (add this event to your Outlook Calendar)
Mr. Schilit will discuss the Seven Shenanigans:
- Recording Revenue Too Soon or of Questionable Quality
- Recording Bogus Revenue
- Boosting Income With One-Time Gains
- Shifting Current Period Expenses to a Later or Earlier Period
- Failing to Record (or Improperly Decreasing) Liabilities
- Shifting Current Revenue to a Later Period
- Shifting Future Expenses to the Current Period (as a One-Time Charge)
Members: $35 (cash, check, credit card) or one Function Ticket
Non-Members: $50 (cash, check, credit card) or one Function Ticket + $10
Dr. Howard Schilit, author of Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports (2nd Edition, March 2002) and advisor to over 4,000 institutional investors, creditors, and insurers shares some of his secrets in ferreting out risky companies using accounting tricks in financial reports.
His research organization, Center for Financial Research & Analysis ("CFRA") alerts institutional investors and others of companies with deteriorating operational cash flows, aggressive accounting policies, and poor corporate governance.
Dr. Schilit frequently lectures on the subject of financial shenanigans to investors, bankers, lawyers, and insurers. He is often quoted in the financial press and media. A featured article in Business Week referred to him as the "Sherlock Holmes of Accounting." He earned his Ph.D. in accounting from the University of Maryland.
Union League Club of Chicago
65 W. Jackson Blvd.
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