Book Review – “Financial Shenanigans”

I just completed reading a book called “Financial Shenanigans” written by Howard M. Schilit and Jeremy Perler. It teaches readers how to uncover financial fraud in the financial statements – Income Statement, Balance Sheet and Statement of Cash Flows.

The book has three main parts. They are:

  • Earnings Manipulation Shenanigans 
  • Cash Flow Shenanigans
  • Key Metrics Shenanigans

It is a highly recommended book for those who want to take analysis of financial statements one step further. Learning to detect financial chicanery can arm an investor and prevent him from investing in fraudulent companies. The book uses case studies of various fraudulent companies that faced the music and teaches investors how not to fall for their trap.


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