Rating: 
Summary: Good reference - not redundant
Review: It seems each new accounting scandal validates this book more that these reviews can hope to. Perhaps the book's importance lies in its chronicle of accounting excesses that we seem to be surprised of by of late, but that Mulford/Comiskey have been quietly bringing to our attention since the mid 90s.... I can see ...that if prior Mulford/Comiskey books are compared, there are similarities. To me that just means they are consistent in the methods they apply - a good sign. The poll of investing professionals is interesting. The checklist for detecting misreported assets and liabilities is a handy reference. The cash flow chapter points out how even the cash flow statement can be manipulated. Good examples throughout keep it moving.
Rating: 
Summary: Alternative view: Big Disappointment
Review: Mulford and Comiskey badly need an editor, clear-sighted and heartless. There is a wonderful book here, but it is maddeningly difficult to extract from the text as presented -- ill-organized and repetitive and in coverage, perhaps even haphazard (another reviewer note that they don't cover reserves -- true, and I wonder if this is simply an oversight?). That said, this remains the best introduction that I've seen to games managers play (and in which accountants cooperate). More extensive (and less jaunty) than Howard Schilit (Financial Shenanigans). For broader coverage on the limits of accounting, move on to Eccles, etc., "The ValueReporting (sic) Revolution." After the dust settles from the Enron imbroglio, M&C will surely want to do a new edition: here's hoping they keep the same wonderful content, with better focus and analysis.
Rating: 
Summary: Frustrating but valuable
Review: Mulford and Comiskey badly need an editor, clear-sighted and heartless. There is a wonderful book here, but it is maddeningly difficult to extract from the text as presented -- ill-organized and repetitive and in coverage, perhaps even haphazard (another reviewer note that they don't cover reserves -- true, and I wonder if this is simply an oversight?). That said, this remains the best introduction that I've seen to games managers play (and in which accountants cooperate). More extensive (and less jaunty) than Howard Schilit (Financial Shenanigans). For broader coverage on the limits of accounting, move on to Eccles, etc., "The ValueReporting (sic) Revolution." After the dust settles from the Enron imbroglio, M&C will surely want to do a new edition: here's hoping they keep the same wonderful content, with better focus and analysis.
Rating:
Summary: Whoa! Excellent book to explain creative accounting ...
Review: So what is a shareholder to believe? The analysts? The accountants? FASB? SEC? Who has our best interest at heart? And who can you trust anymore? Caveat Emptor. Buyer beware... I began a search to find the best book I could to educate me on corporate creative accounting and this is it. EZ to understand. You don't need to know debits and credits. I know what to look for now when I study 10k's. It's all in this book. Timely. Published just as Enron broke. Lots of companies mentioned, which I won't mention here. You just might be shocked at what you find out. Chapters include 'How the Game is Played', 'Misreported Assets and Liabilities', 'Getting Creative with the Income Statement, 'Earnings Management', 'Problems with Cash Flow Reporting', and many more. Complete with exhibits, charts, footnotes. EZ read. Have to go now and re-evaluate my favorite corporate annual reports!
Rating:
Summary: Could not have come at a better time . . . .
Review: This book could not have come at a better time, given the Enron debacle shocking investors, accountants, and politicians all over the world. Mulford and Comiskey explain what signs to look for in detecting earnings manipulation. They have gathered advice from expert analysts, CFOs, and CPAs, and provide real-world examples of aggressive and fraudulent financial reports. I have long viewed Mulford and Comiskey
as experts in the field, and they did not let me down in their analysis of creative accounting procedures in The Financial Numbers Game. A great book!
Rating:
Summary: Compelling Eye-Opener
Review: This book explains in understandable and compelling terms how corporations REALLY work (at least, some of them) -- and certainly puts situations like what happened with Enron into context. I was surprised at how readable the authors made this technical subject! I am neither an accountant, nor financier -- but an ordinary person who watched my small investments in the NASDAQ disappear. I now have a completely new perspective on the whole system. I highly recommend The Financial Numbers Game to professional and lay persons alike!
Rating:
Summary: Investment Clubs - read this book
Review: This book is a must read for investment clubs. The cash flow analysis is a really valuable tool for learning to decipher financial reporting.
Rating: 
Summary: you are not likely to learn anything knew from this book
Review: This book is not likely to tell you anything that you don't know already from reading the newspapers. The authors wrote in the introduction that it requires advanced knowledge of finance and accounting to comprehend the material. Nothing like that. A couple of basic accounting courses are all you need to read it. It is redundant. It didn't tell me anything new although if I were a sophomore in college then maybe I would have learned something. Don't expect to get any insight into the financial numbers game. It is a little more than a basic review of current accounting issues. If you read business publications from time to time then you are already well familiar with everything the book has to say.
Rating:
Summary: you are not likely to learn anything knew from this book
Review: This book is not likely to tell you anything that you don't know already from reading the newspapers. The authors wrote in the introduction that it requires advanced knowledge of finance and accounting to comprehend the material. Nothing like that. A couple of basic accounting courses are all you need to read it. It is redundant. It didn't tell me anything new although if I were a sophomore in college then maybe I would have learned something. Don't expect to get any insight into the financial numbers game. It is a little more than a basic review of current accounting issues. If you read business publications from time to time then you are already well familiar with everything the book has to say.
Rating:
Summary: Good book, but.....
Review: This is a good book, and comes at a great time. The only problem I have with it is that its missing some important information. For example it does not mention how management can play with "reserves" to increase the company profits. This is quite an important topic to miss, especially since it can be so easilly done by companies and it has been done as discovered in the financial scandals in the last few weeks. I would suggest you read: "Financial Shenanigans : How to Detect Accounting Gimmicks & Fraud in Financial Reports". It is not quite as long, but covers all the major topics (including playing with reserves) in good detail with good examples (though slightly dated - late 70's to early 90's).
| 
