Earnings Magic and the Unbalance Sheet : The Search for Financial Reality

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2006-04-21
  • Publisher: Wiley
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Praise for Earnings Magic and the Unbalance Sheet"Gary Giroux brings a breezy, entertaining writing style that really helps the reader untangle arcane accounting practices, including stock options, pensions, off-balance sheet items, and the rest of his 'dirty thirty.'" Edward Swanson, Durst Chair and Professor of Accounting, Texas A&M University"Earnings Magic and the Unbalance Sheet provides equity investors with clear explanations of today's financial environment together with specific analysis tools to assess the quality of earnings. Gary Giroux provides a valuable and easy-to-use scoring system where investors assign grades to help them in their investment decisions. Earnings Magic is a must-read for any investor in the Dow Jones Industrial Average (Dow 30). Giroux thoroughly analyzes some of the biggest and best known companies." Andrew McLelland, Assistant Professor of Accounting, Auburn UniversityYOUR KEY TO EVALUATING A COMPANY'S EARNINGS QUALITYWouldn't you like to know as much as you could about a company before you invest in it? Financial information on companies is readily available, but not necessarily easy to interpret.With shrewd tips and state-of-the-art analytical tools, Earnings Magic and the Unbalance Sheet arms you with the key strategies and principles to help you evaluate whether a company's bottom line is headed toward excellence or financial abuse. This eye-opening guide expertly walks you through the tangle of potentially inflated earnings and misleading accounting disclosures to determine a company's financial reality.

Author Biography

GARY GIROUX, CPA, PhD, is Shelton Professor of Accounting at Texas A&M University. He received his PhD from Texas Tech University and has been at Texas A&M for over two-and-a-half decades. Dr. Giroux has published over fifty articles in various professional journals and is the author of Core Concepts of Financial Analysis: A User Approach, Detecting Earnings Management (Wiley), and Dollars & Scholars, Scribes & Bribes: The Story of Accounting. </p>

Table of Contents

Preface ix
Section 1 Earnings Magic and the Unbalanced Sheet 1(70)
Chapter 1 What Is Earnings Magic? Does the Balance Sheet Balance?
Chapter 2 Caught in the Act!
Chapter 3 The New Accounting
Chapter 4 Wading Through the Earnings Numbers
Section 2 The Big 8 and Dirty 30: Key Accounting Issues That Signal Earnings Magic 71(150)
Chapter 5 Key Accounting Issues: An Overview
Chapter 6 Stock Options
Chapter 7 Pensions and Other Postemployment Benefits
Chapter 8 Revenues
Chapter 9 Earnings, Expenses, and Expectations
Chapter 10 Strange Special Items and Other Things That Should Not Be on the Income Statement
Chapter 11 Treasury Stock and Dividends
Chapter 12 Off–Balance Sheet Items: Operating Leases and Special-Purpose Entities
Chapter 13 Acquisitions and All That Goodwill
Chapter 14 Dishonorable Mention: The Rest of the Dirty 30
Section 3 Putting It All Together 221(50)
Chapter 15 Finding Signals of Financial Excellence and Earnings Magic
Chapter 16 A Checklist for Evaluating Financial Excellence
Chapter 17 An Investment Strategy
Chapter 18 Searching for Help: Useful Internet Sites
Epilogue 271(2)
References 273(6)
Index 279

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