Check out Michelle Leder’s weblog Footnoted
Michelle wrote the forensic accounting tome “Financial Fine Print:Uncovering a Company’s True Value” and has plenty of insight into accounting games:
While everyone from Warren Buffett to Arthur Levitt says that it’s important for individual investors to read the footnotes in annual and quarterly reports, nobody has ever written a book that spells out exactly what investors need to look for. FINANCIAL FINE PRINT: UNCOVERING A COMPANY’S TRUE VALUE gives investors the tools they need to make better, more informed decisions. By using numerous examples of actual footnotes that have appeared in SEC documents, the book teaches investors in easy-to-understand language ways to spot – and avoid – future Enrons and Worldcoms. The book contains dozens of Search Tips and Red Flags that investors can use to quickly spot potential problems, no matter what type of company you’re investing in.
Now that the market has begun to rebound, investors need Financial Fine Print more than ever. For any investor who’s spent the past three years watching their investments shrink and has begun to think about getting back into the market, this book provides the critical tools that investors need to avoid getting burned once again.