9780471469186

Creative Cash Flow Reporting : Uncovering Sustainable Financial Performance

by ;
  • ISBN13:

    9780471469186

  • ISBN10:

    0471469181

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2005-01-20
  • Publisher: WILEY

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Summary

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.

Author Biography

Charles W. Mulford, PhD, CPA, 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 The Financial Numbers Game, 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.

Eugene E. Comiskey, PhD, CPA, CMA, 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 The Financial Numbers Game, and has published numerous papers in a wide range of professional and academic journals.

Table of Contents

Foreword xi
Preface xiii
About the Authors xv
Seeking Sustainable Cash Flow
1(36)
An Artificial Boost to Operating Cash Flow
3(2)
Classifying Cash Flow
5(4)
Sustainable Cash Flow
9(9)
Creative Cash Flow Reporting
18(11)
Ignoring the Statement of Cash Flows
29(1)
Cash Flow Analysis
30(2)
Plan of This Book
32(1)
Summary
33(4)
Structure of the Statement of Cash Flows
37(44)
Historical Background
38(11)
Arrival of the Statement of Cash Flows
49(19)
Non-GAAP Measures of Cash Operating Performance
68(5)
International Differences in the Statement of Cash Flows
73(1)
Summary
74(7)
Is It Operating or Investing Cash Flow?
81(40)
Investing Cash Flow
86(5)
GAAP Flexibility: Is It Operating or Investing Cash Flow?
91(23)
Beyond the Boundaries of GAAP
114(2)
Summary
116(5)
Is It Operating or Financing Cash Flow?
121(38)
Financing Cash Flow
125(6)
GAAP Flexibility: Is It Operating or Financing Cash Flow?
131(23)
Beyond the Boundaries of GAAP
154(1)
Summary
155(4)
Income Taxes and the Statement of Cash Flows
159(50)
Tax Reporting Essentials
160(6)
Classification of Tax-Related Cash Flow
166(14)
Nonrecurring Income Tax Cash Flows
180(23)
Summary
203(6)
Nonrecurring Sources and Uses of Operating Cash Flow
209(32)
Characteristics of Nonrecurring Items of Operating Cash Flow
211(1)
Examples of Nonrecurring Cash Sources and Uses
211(2)
Management Identification of Nonrecurring Operating Cash Flow
213(5)
Locating Nonrecurring Items of Operating Cash Flow
218(13)
Cash Flow Tracking
231(4)
Summary
235(6)
Measuring Sustainable Operating Cash Flow
241(28)
Sustainable Operating Cash Flow
242(2)
Calibrating Operating Cash Flow Adjustments
244(8)
Measuring Sustainable Operating Cash Flow
252(5)
Completed Sustainable Operating Cash Flow Worksheet
257(5)
Frequency and Size of Adjustment Items
262(3)
Summary
265(4)
Using Operating Cash Flow to Detect Earnings Problems
269(36)
Relationship between Earnings and Operating Cash Flow
271(13)
Earnings Supported by Artificial Means
284(6)
Excess Cash Margin
290(10)
Summary
300(5)
Analyzing Operating Cash Flow
305(40)
Cash Flow Analysis Statement
308(6)
Using the Cash Flow Analysis Statement
314(11)
Cash Flow Drivers
325(11)
Closer Look at Core Operating Cash Flow
336(5)
Summary
341(4)
Understanding Free Cash Flow
345(34)
Uses of Free Cash Flow
348(10)
What Is Free Cash Flow?
358(4)
Free Cash Flow to Common Equity: A Closer Look
362(8)
Capital Expenditures
370(5)
Acquisitions and Free Cash Flow
375(1)
Summary
375(4)
Glossary 379(16)
Subject Index 395(14)
Company Index 409

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