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Mulford, Charles

Charles Mulford

Professor Emeritus
Charles Mulford profile photo

Academic Area(s):
Cash Flow Analysis and Forecasting
Financial Reporting and Investment Decision Making
Financial Warnings
Accounting Data and Security Risk
Financial Reporting for Technology Firms
PhD, Florida State University

Charles W. Mulford is Professor Emeritus and formally served as founding Director of the College’s Financial Reporting and Analysis Lab.  Since joining the faculty in 1983, he has been recognized eleven times as Core Professor of the Year and five times as Elective Professor of the Year by the College’s MBA students.  In 1999 the graduate students voted to rename the Core Professor of the Year Award the “Charles W. Mulford Core Professor of the Year Award”.  An additional teaching award received in 2000 was the university-wide W. Roane Beard Outstanding Teacher Award.

Dr. Mulford’s academic pursuits include the publication of numerous papers in scholarly as well as professional accounting and finance journals.  His research interests center on the effects of accounting standards on investment and credit decision-making, financial warnings and the use of published financial reports in the analysis and forecast of corporate cash flows.  He has coined several terms that are gaining acceptance and use among financial analysts, including “free cash growth profile,” “cash flow sustainability,” and “earnings quality indicator.”  Professor Mulford has co-authored four books, Financial Warnings, published in 1996, Guide to Financial Reporting and Analysis, published in 2000, The Financial Numbers Game:  Identifying Creative Accounting Practices, published in 2002, which was translated into four languages, and Creative Cash Flow Reporting:  Uncovering Sustainable Financial Performance, which was published in 2005.  In 2002, Dr. Mulford founded the Georgia Tech Financial Analysis Lab, which is dedicated to conducting independent research into issues impacting the valuations of stocks and bonds.  The Lab publishes numerous research reports per year that are sent to over 900 subscribers who are employed by investment firms, hedge funds, commercial banks, CPA firms and financial regulators.

Dr. Mulford has appeared on numerous broadcast networks, including CNBC, ABC News, and Bloomberg TV. In addition, he has been quoted over 500 times in several leading business publications, including The Wall Street Journal, The Financial Times, The Economist, Business Week, Forbes, and CFO.

In addition to his work at Georgia Tech, Professor Mulford regularly consults with major domestic and international commercial banks and money-management firms on issues related to credit and investment decision-making.  He also serves as Director of Research to Cash Flow Analytics, LLC and is a member of the Board of Directors of BioDerm, Inc., Largo, Florida.

Professor Mulford has a doctorate in accounting from the Florida State University and is professionally qualified as a Certified Public Accountant (CPA).