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Chapter 8. Earnings Tricks and Games: Ma... > Red Flag 10: Now, a Contradictory Wa...

Red Flag 10: Now, a Contradictory Warning—Cash Flow Can Also Be Manipulated

I’ve just given you a tool with which to detect possible shenanigans, and a moment later, I am casting doubt on its credibility. I have suggested that investors tired of being deceived by management manipulation of earnings before interest depreciation and amortization (Ebitda), pro-forma earnings, core profits, and even good old net profit could try going with the flow—cash flow from operations.


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