A Forensic Accounting Expert Explains How Companies Trick Investors

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 10 September 2018

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Companies have all kinds of discretion in how they recognize revenue and costs. Some of this is legit. Some of this is fraud. On this week's episode of the Odd Lots podcast, we speak with Howard Schilit, an expert in forensic accounting and the author of “Financial Shenanigans: How To Detect Accounting Gimmicks & Fraud in Financial Reports.”

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0:00.0	Thought Creators, the Podcast for Financial Experts, brought to you by FAB.
0:08.0	My guest today is Sarah Piersada Osmani, head of Sustainable Asset and Project Finance at
0:13.4	FAB.
0:14.4	FAB has committed to lend, arrange and facilitate up to US dollar 75 billion of
0:20.2	sustainable finance by 2030.
0:23.0	Plot Creators.
0:25.0	The Podcast for Financial Experts brought to you by FAB.
0:29.0	When you get your news from Bloomberg, you don't just get the story.
0:34.6	You get the story behind the story.
0:36.9	How your Evie's battery may not be as green as it seems.
0:40.5	Why a decrease in global birth rates could send countries scrambling to increase immigration.
0:46.2	You get context.
0:47.2	And context changes how you see things, how you change things, because context changes everything.
0:54.0	Go to Bloomberg.com to get context. Hello and welcome to another episode of the All-Th Lots Podcast. I'm Joe Wiesenthall.
1:15.0	I'm Tracy Allaway.
1:16.0	And I'm Joe Wiesenthal.
1:18.0	Joe, what is my all-time favorite topic?
1:21.0	I know the answer to this, fraud. Financial fraud. Yeah, yeah, you're actually right.
1:27.4	I'm actually right as if it's such a surprise that I would get this question. You asked it so definitively,
1:34.2	and we've been doing this for a while,
1:36.4	thank you for giving me that credit.
1:39.2	I only say that because you didn't know my age
	...

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