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    1. Ekonomi och Ledarskap
    2. Företagsekonomi
    3. Redovisning och finansiering
    4. Redovisning

    Asian Financial Statement Analysis

    Detecting Financial Irregularities

    AvChinHwee Tan,Thomas R. Robinson

    Inbunden, Engelska, 2014

    Del i serien Wiley Finance

    803 kr

    Beställningsvara. Skickas inom 5-8 vardagar. Fri frakt över 249 kr.

    Beskrivning

    Gain a deeper understanding of Asian financial reporting and how to detect irregularities The Asian region, and particularly China, is becoming a hotbed of investment activity. There have been quite a few accounting scandals in Asia in the recent years – now rivaling those we have seen in the Americas and Europe. Assessing potential or active overseas investments requires reliance on financial statements, the full parameters of which may vary from region to region. To effectively analyze statements, it is necessary to first understand the framework underlying these financial statements and then lay out a protocol for detecting irregularities. It's impossible to create and implement a practical plan without a deeper knowledge of the various factors at play.Asian Statement Analysis: Detecting Financial Irregularities provides a framework for analysis that makes irregularities stand out. Authors Chin Hwee Tan and Thomas R. Robinson discuss international financial reporting standards, including characteristics particular to the Asian region. Tan and Robinson's combined background in academia and Asian finance give them a multi-modal perspective and position them as top authorities on the topic. In the book, they address issues such as: Detection of irregularities independent of particular accounting rulesThe most common irregularities in the Asian marketSimilarities and differences between U.S. and Asian accounting techniquesAn overarching framework for irregularity detectionThe book uses real-world examples to illustrate the concepts presented, with the focus on Asian companies. As the first ever in-depth study on manipulation and irregularities in the Asian market, Asian Financial Statement Analysis: Detecting Financial Irregularities is uniquely positioned to be a valuable resource in the move toward the next phase of global reporting standards.

    Produktinformation

    • Utgivningsdatum:2014-05-23
    • Mått:160 x 236 x 20 mm
    • Vikt:404 g
    • Format:Inbunden
    • Språk:Engelska
    • Serie:Wiley Finance
    • Antal sidor:208
    • Förlag:John Wiley & Sons Inc
    • Medarbetare:Howard Schilit
    • ISBN:9781118486528

    Utforska kategorier

    • Redovisning inom Ekonomi och Ledarskap

    Mer om författaren

    CHINHWEE TAN, CFA, CPA, is the founding partner in Asia for a leading global alternative investor, among the largest in the world. He is a pioneer in special situation investing in Asia and has a track record of investing in more than 100 deals. He was voted by The Hedge Fund Journal as one of the emerging top 40 absolute return investors globally and was also named as Best Asia Credit Hedge Fund manager by The Asset. He is the winner of the 2013 Distinguished Financial Industry Certified Professional (FICP) Award from the Singapore government.THOMAS R. ROBINSON, CFA, CPA, is Managing Director of the Americas at CFA Institute. Previously, Tom served as Managing Director of Education at CFA Institute, providing vision and leadership for a 100-member global team producing and delivering educational content for candidates, members, and other investment professionals. Prior to joining the CFA Institute, Tom had a 25-year career in financial services and education. Tom has published regularly in academic and professional journals and has authored or coauthored many books on financial analysis valuation and wealth management. Tom is a CFA charterholder, a Certified Public Accountant (CPA) (Ohio), a Certified Financial Planner (CFP®), and a Chartered Alternative Investment Analyst (CAIA). He holds a bachelor's degree in economics from the University of Pennsylvania, and a master's and doctorate from Case Western Reserve University.

    Recensioner i media

    "Written by Tan Chin Hwee, the founding partner in Asia for Apollo Global Management, a leading US$162 billion global alternative investor, among the top three largest in the world; and Tom Robinson, professor of accounting and head of education at the CFA Institute, the book offers a practical framework for performing forensic financial analysis and detecting accounting irregularities." - Daniel Yu, The Asset "But what if investors were armed with practical tips on what to look for in assessing companies--espeically avoiding the dodgy ones (and maybe even profiting by taking a short sale position)? Here is where Asian Financial Statement Analysis: Detecting Financial Irregularities may become the seminal book that equips investors with what to look out for when assessing investment opportunities in Asia."  - Daniel Yu, The Asset "Tan and Robinson write that corporate governance has been the Achilles' heel for minority equity shareholders in Asia. Despite being publicly traded, they say that many companies are sitll effectively controlled by the founder or his family; there is nothing inherently wrong with this, but the real winners in many companies are not the minority shareholders. Investors in this region, therefore, will need to be extra vigilant and this book goes a long way in helping strengthen their position." - Daniel Yu, The Asset

    Innehållsförteckning

    • Foreword xiGenesis of This Book xiiiAcknowledgments xvIntroduction 1Why Focus on Scandals in Asia? 2How This Book is Organized 4As You Begin 5Notes 5Chapter 1 A Framework for Evaluating Financial Irregularities 7Articulation of Financial Statements 8Accruals and Deferrals 12Typical Accounting Games 13Parting Comments 22Note 22References 22Chapter 2 Detecting Overstated Earnings 23Aggressive Revenue Recognition 24Understatement or Deferral of Expenses 29Classification of Non-Operating Income 31Classification of Non-Operating Expenses 31Parting Comments 32Case Studies 33Longtop Financial 33Sino-Forest 37Oriental Century 42References 46Chapter 3 Detecting Overstated Financial Position 47Excluding Both Assets and Liabilities 49Other Off-Balance-Sheet Financing/Liabilities 53Overstating Assets 54Parting Comments 59Case Studies 60RINO International Corp. 60Olympus 66Oceanus 69Notes 72References 72Chapter 4 Detecting Earnings Management 73Accruals and Deferrals Revisited 74Accounts Receivable (Accrued Revenue) and the Allowance for Doubtful Accounts 75Deferred (Unearned) Revenue 80Accrued and Deferred (Prepaid) Expenses 80Deferred Taxes 81Contingencies and Reserves 86Parting Comments 87Case Studies 88Harbin Electric 89West China Cement 98China Biotics 101References 105Chapter 5 Detecting Overstated Operating Cash Flows 107Understanding the Cash Flow Statement 108Using Cash Flow to Assess the Quality of Earnings 113Cash Flow Games 116Parting Comments 118Case Studies 118Renhe Commercial Holdings 118Duoyuan Global Water 123Winsway Coking Coal Holdings 131References 136Chapter 6 Evaluating Corporate Governance and Related-Party Issues 137Board Governance and Independent Directors 138Shareowner Rights 139Interlocking Ownership or Directorships 140Related-Party Transactions 140Excessive Compensation 142Personal Use or Expropriation of Assets 143Lack of Transparency 143Auditor Issues 143Parting Comments 144Case Studies 146China Valves Tech 146PUDA Coal 149Sino-Environment Technology Group Limited 153Note 157References 157Chapter 7 Summary and Guidance 159Putting It All Together 160A Recipe for Detecting Cooked Books 163Parting Comments 168Case Studies 168Celltrion, Inc. 169Real Gold Mining 170Fibrechem Technologies Ltd. 175References 177About the Authors 179Index 181
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