18
The Unraveling
Until now, Financial Shenanigans has mainly focused on describing a variety of accounting tricks and how investors could have spotted them. Companies using such tricks to hide business problems sometimes collapse in a spectacular fashion, creating large losses for investors. We refer to this meltdown as the unraveling.
This chapter highlights three companies that employed a variety of shenanigans to hide business problems from investors but eventually imploded as the accounting scandals were revealed. The first two companies profiled have had a long history of success (Hertz Global Holdings and Toshiba Corporation). The third company profiled is a relative newcomer, but had a spectacular rise and fall in less than a decade ...
Get Financial Shenanigans, Fourth Edition: How to Detect Accounting Gimmicks & Fraud in Financial Reports, 4th Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
