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Financial Shenanigans, Fourth Edition: How to Detect Accounting Gimmicks & Fraud in Financial Reports, 4th Edition by Yoni Engelhart, Jeremy Perler, Howard M. Schilit

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17

Acquisition Accounting Shenanigan No. 3: Manipulating Key Metrics

Academic research has long supported the claim that most acquisitions destroy shareholder value. Management must therefore work very hard to convince investors of the merits of a deal. That’s where AA Shenanigan No. 3: Manipulating Key Metrics comes in handy to portray a business combination in a very favorable light. As Key Metric Shenanigans have become much more pervasive in recent years, there has been an uptick in misleading non-GAAP metrics used by the most acquisitive companies.

Inflating Sales Growth at the Core Business

When analyzing acquisitive companies, investors often have a difficult time separating organic revenue growth in the legacy business from revenue growth ...

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