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You are here: Home Course materials CPE course study guides 1058N: Financial Numbers Game Study Guide

1058N: Financial Numbers Game Study Guide

Study Guide for The Financial Numbers Guide: Detecting Creative Accounting Practices

The Study Guide is provided to guide you through the course material in a step by step format.

Reading assignments are for The Financial Numbers Game by Charles W. Mulford and Eugene E. Comiskey

 

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Step 1: Obtain the reference text
Step 2: Review the Study Guide
Step 3: Print review questions and final exam
Step 4: Complete exams online
Lesson and Objectives
Reading
Assignment
Review
Questions
1. Financial Numbers Game.
Chapter 1
#1-4

The learning objectives for this lesson are to gain an understanding of:

  • Rewards of the Game.

  • Classifying Creative Accounting Practices.

  • Plan of This Book

 
 
2. How the Game Is Played.
Chapter 2
#5-13

The learning objectives for this lesson are to gain an understanding of:

  • Accounting Policy Choice and Application.

  • Fraudulent Financial Reporting.

  • Cleaning Up after the Game.

  • Clarifying Terminology.

 
 
3. Earnings Management: A Closer Look.
Chapter 3
#14-23

The learning objectives for this lesson are to gain an understanding of:

  • What Is Earnings Management?

  • Incentives and Conditions for Earnings Management.

  • Earnings Management Techniques.

  • Evidence of Earnings Management.

  • Effectiveness of Earnings Management.

  • Is Earnings Management Good or Bad?

 
 
4. The SEC Responds.
Chapter 4
#24-32

The learning objectives for this lesson are to gain an understanding of:

  • The Chairman's Speech.

  • The Action Plan.

  • Subsequent Developments.

  • Enforcing the Securities Laws.

 
 
5. Financial Professionals Speak Out.
Chapter 5
#33-44

The learning objectives for this lesson are to gain an understanding of:

  • Survey of Financial Professionals.

  • Survey Results.

 
 
6. Recognizing Premature or Fictitious Revenue.
Chapter 6
#45-54

The learning objectives for this lesson are to gain an understanding of:

  • Is It Premature or Fictitious Revenue?

  • When Should Revenue Be Recognized?

  • Detecting Premature or Fictitious Revenue.

  • Checklist to Detect Premature or Fictitious Revenue

 
 
7. Aggressive Capitalization and Extended Amortization Policies.
Chapter 7
#55-63

The learning objectives for this lesson are to gain an understanding of:

  • Cost Capitalization.

  • Detecting Aggressive Cost Capitalization Policies.

  • Amortizing Capitalized Costs.

  • Detecting Extended Amortization Periods.

  • Checklist to Detect Aggressive Capitalization and Extended Amortization Policies.

 
 
8. Misreported Assets and Liabilities.
Chapter 8
#64-73

The learning objectives for this lesson are to gain an understanding of:

  • Link with Reported Earnings.

  • Boosting Shareholders' Equity.

  • Overvalued Assets.

  • Undervalued Liabilities.

  • Checklist to Detect Misreported Assets and Liabilities.

 
 
9. Getting Creative with the Income Statement: Classification and Disclosure.
Chapter 9
#74-84

The learning objectives for this lesson are to gain an understanding of:

  • Current Income Statement Requirements and Practices.

  • Reporting Comprehensive Income.

  • Creative Income Statement Classifications.

  • Creativity with Other Aspects of the Income Statement.

 
 
10. Getting Creative with the Income Statement: Pro-Forma Measures of Earnings.
Chapter 10
#85-90

The learning objectives for this lesson are to gain an understanding of:

  • Recasting the Bottom Line: Pro-Forma Earnings Measures.

 
 
11. Problems with Cash Flow Reporting.
Chapter 11
#91-100

The learning objectives for this lesson are to gain an understanding of:

  • Reporting Cash Flow.

  • Problems with Reported Operating Cash Flow.

  • Using Operating Cash Flow to Detect Creative Accounting Practices.

  • Checklist for Using Operating Cash Flow to Detect Creative Accounting Practices

 
 

 

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