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Title: How Companies Lie: Why Enron Is Just the Tip of the Iceberg by Richard J. Schroth, A. Larry Elliott ISBN: 0-609-61081-3 Publisher: Crown Business Pub. Date: 25 June, 2002 Format: Hardcover Volumes: 1 List Price(USD): $18.95 |
Average Customer Rating: 3.7 (10 reviews)
Rating: 5
Summary: Highly Recommended!
Comment: In another era, we might have been tempted to shrug off How Companies Lie as just another polemic against corporate greed. In the wake of Enron, Global Crossing, Tyco and a host of other corporate scandals, however, we must (sorrowfully) admit that this book is as timely as it is insightful. Readers will gain much from the book's explanation of some of the actual accounting techniques that companies use to mislead investors, as well as its advice on how to spot telltale signs that a company might be cooking the books. While financial and accounting experts might find this analysis a bit basic, we from getAbstract recommend this book to all general business readers.
Rating: 5
Summary: A Deep Look at Business Reality
Comment: If your looking to share an opinion with someone and you feel like business leaders are letting you down, then by all means, pick up this book. This book stands on its own and appologizes to no one. The Wharton Business school's review is dead on in citing that the authors are trying to get at something much deeper than the shallow perspective of accounting. Something is fundamentally broken ... and these boys point it out. This book is not about greed, its not about Enron, its not about accounting methods, but its about a deeper and more fundamental issue that no one else seems to be getting to .... our system for understanding the current economic, legal and technological functionality of our corporations is broken. As the authors point out, "Have you been able to tell recently when you hear an earnings report on the news if anyone can tell the difference between them lying to you and the truth? I've been listening and I can't distinguish Xerox today from Xerox a year ago when I hear it on the news. The people these guys are talking about begins with us. Read this book and read it deep. There is a warning here that we all better pay attention to. Remember, this book is acknowledged to have been written before all this Enron stuff took place, and then a little Enron perspective was added. If the authors are actually that correct, we have a long way to go to fix the curret problems.
Rating: 1
Summary: Review of "How Companies Lie"
Comment: This book examines the problem of financial misstatements with a special focus on Enron. The book is light on facts and analysis, but heavy on opinion. Most of the chapters just restate contemporary criticisms of contemporary management decision-making (e.g., greed). The authors have very little to say about warning signs and the accounting used by management to mislead investors. Those wanting a more substantive analysis of the issues and the perspective of an insider should read Arthur Levitt's new book, "Take on the Street."
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