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Creative Cash Flow Reporting : Uncovering Sustainable Financial Performance by Charles W. Mulford and Eugene E. Comiskey (2005, Hardcover)

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About this product

Product Identifiers

PublisherWiley & Sons, Incorporated, John

ISBN-100471469181

ISBN-139780471469186

eBay Product ID (ePID)30967322

Product Key Features

Book TitleCreative Cash Flow Reporting : Uncovering Sustainable Financial Performance

Number of Pages432 Pages

LanguageEnglish

TopicAccounting / General

Publication Year2005

IllustratorYes

GenreBusiness & Economics

AuthorCharles W. Mulford, Eugene E. Comiskey

FormatHardcover

Dimensions

Item Height1.6 in

Item Weight30.5 Oz

Item Length10.1 in

Item Width7.3 in

Additional Product Features

Intended AudienceTrade

LCCN2004-016891

Reviews"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." ( Graziado Business Report.com ; Issue 4, Vol 10, 2007)

Dewey Edition22

Dewey Decimal658.15/244

Table Of ContentForeword xi Preface xiii About the Authors xv 1 Seeking Sustainable Cash Flow 1 An Artificial Boost to Operating Cash Flow 3 Classifying Cash Flow 5 Sustainable Cash Flow 9 Creative Cash Flow Reporting 18 Ignoring the Statement of Cash Flows 29 Cash Flow Analysis 30 Plan of This Book 32 Summary 33 2 Structure of the Statement of Cash Flows 37 Historical Background 38 Arrival of the Statement of Cash Flows 49 Non-GAAP Measures of Cash Operating Performance 68 International Differences in the Statement of Cash Flows 73 Summary 74 3 Is it Operating or Investing Cash Flow? 81 Investing Cash Flow 86 GAAP Flexibility: Is it Operating or Investing Cash Flow? 91 Beyond the Boundaries of GAAP 114 Summary 116 4 Is it Operating or Financing Cash Flow? 121 Financing Cash Flow 125 GAAP Flexibility: Is it Operating or Financing Cash Flow? 131 Beyond the Boundaries of GAAP 154 Summary 155 5 Income Taxes and the Statement of Cash Flows 159 Tax Reporting Essentials 160 Classification of Tax-Related Cash Flow 166 Nonrecurring Income Tax Cash Flows 180 Summary 203 6 Nonrecurring Sources and Uses of Operating Cash Flow 209 Characteristics of Nonrecurring Items of Operating Cash Flow 211 Examples of Nonrecurring Cash Sources and Uses 211 Management Identification of Nonrecurring Operating Cash Flow 213 Locating Nonrecurring Items of Operating Cash Flow 218 Cash Flow Tracking 231 Summary 235 7 Measuring Sustainable Operating Cash Flow 241 Sustainable Operating Cash Flow 242 Calibrating Operating Cash Flow Adjustments 244 Measuring Sustainable Operating Cash Flow 252 Completed Sustainable Operating Cash Flow Worksheet 257 Frequency and Size of Adjustment Items 262 Summary 265 8 Using Operating Cash Flow to Detect Earnings Problems 269 Relationship between Earnings and Operating Cash Flow 271 Earnings Supported by Artificial Means 284 Excess Cash Margin 290 Summary 300 9 Analyzing Operating Cash Flow 305 Cash Flow Analysis Statement 308 Using the Cash Flow Analysis Statement 314 Cash Flow Drivers 325 Closer Look at Core Operating Cash Flow 336 Summary 341 10 Understanding Free Cash Flow 345 Uses of Free Cash Flow 348 What is Free Cash Flow? 358 Free Cash Flow to Common Equity: A Closer Look 362 Capital Expenditures 370 Acquisitions and Free Cash Flow 375 Summary 375 Glossary 379 Subject Index 395 Company Index 409

SynopsisPraise for Creative Cash Flow Reporting "With Creative Cash Flow Reporting , Charles Mulford and Eugene Comiskey have established themselves as the Graham and Dodd of sniffing out financial shenanigans. This book is destined to become a classic it is the last word on cash flow." Herb Greenberg, Senior Columnist, CBSMarketwatch.com "The combination of academic rigor with excellent accessible writing and explanation on display makes this book extraordinarily valuable for investors of any skill level." Bill Mann, Senior Editor, Investing, The Motley Fool " Creative Cash Flow Reporting is destined to become the gold standard in the field of forensic analysis of corporate cash flow." Thornton L. O'glove, founder, Quality of Earnings Report "With this book, professors Mulford and Comiskey take popular analytical dogma about cash flow reporting and stand it on its head: cash flow can be manipulated." Jack Ciesielski, Publisher, The Analyst's Accounting Observer "I always assumed that operating cash flow was the last word when it comes to evaluating a company's results. No more! Mulford and Comiskey's latest effort opened my eyes to what really counts: sustainable cash flow." Harry Domash, Publisher, Winning Investing newsletter; Investing columnist, San Francisco Chronicle , MSN Money "Mulford and Comiskey have created another superb guide for serious users of financial statements. This book should be a companion for anyone examining the quality and sustainability of a firm's earnings and cash flow." Mark N. Hurley, Head, Global Risk Education, JPMorgan Chase, Successful methodology for identifying earnings-related reporting indiscretions Creative Cash Flow Reporting and Analysis capitalizes on current concerns with misleading financial reporting on misleading financial reporting., Successful methodology for identifying earnings-related reporting indiscretions 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. 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.

LC Classification NumberHF5681.C28M845 2005