{"product_id":"asian-financial-statement-analysis-isbn-9781118486528","title":"Asian Financial Statement Analysis","description":"\u003cb\u003eGain a deeper understanding of Asian financial reporting and how to detect irregularities\u003c\/b\u003e  \u003cp\u003eThe 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.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eAsian Statement Analysis: Detecting Financial Irregularities\u003c\/i\u003e 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:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eDetection of irregularities independent of particular accounting rules\u003c\/li\u003e \u003cli\u003eThe most common irregularities in the Asian market\u003c\/li\u003e \u003cli\u003eSimilarities and differences between U.S. and Asian accounting techniques\u003c\/li\u003e \u003cli\u003eAn overarching framework for irregularity detection\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe 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, \u003ci\u003eAsian Financial Statement Analysis: Detecting Financial Irregularities\u003c\/i\u003e is uniquely positioned to be a valuable resource in the move toward the next phase of global reporting standards.\u003c\/p\u003e \u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003eGenesis of This Book xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Focus on Scandals in Asia? 2\u003c\/p\u003e \u003cp\u003eHow This Book is Organized 4\u003c\/p\u003e \u003cp\u003eAs You Begin 5\u003c\/p\u003e \u003cp\u003eNotes 5\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 A Framework for Evaluating Financial Irregularities 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eArticulation of Financial Statements 8\u003c\/p\u003e \u003cp\u003eAccruals and Deferrals 12\u003c\/p\u003e \u003cp\u003eTypical Accounting Games 13\u003c\/p\u003e \u003cp\u003eParting Comments 22\u003c\/p\u003e \u003cp\u003eNote 22\u003c\/p\u003e \u003cp\u003eReferences 22\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Detecting Overstated Earnings 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAggressive Revenue Recognition 24\u003c\/p\u003e \u003cp\u003eUnderstatement or Deferral of Expenses 29\u003c\/p\u003e \u003cp\u003eClassification of Non-Operating Income 31\u003c\/p\u003e \u003cp\u003eClassification of Non-Operating Expenses 31\u003c\/p\u003e \u003cp\u003eParting Comments 32\u003c\/p\u003e \u003cp\u003eCase Studies 33\u003c\/p\u003e \u003cp\u003eLongtop Financial 33\u003c\/p\u003e \u003cp\u003eSino-Forest 37\u003c\/p\u003e \u003cp\u003eOriental Century 42\u003c\/p\u003e \u003cp\u003eReferences 46\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Detecting Overstated Financial Position 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExcluding Both Assets and Liabilities 49\u003c\/p\u003e \u003cp\u003eOther Off-Balance-Sheet Financing\/Liabilities 53\u003c\/p\u003e \u003cp\u003eOverstating Assets 54\u003c\/p\u003e \u003cp\u003eParting Comments 59\u003c\/p\u003e \u003cp\u003eCase Studies 60\u003c\/p\u003e \u003cp\u003eRINO International Corp. 60\u003c\/p\u003e \u003cp\u003eOlympus 66\u003c\/p\u003e \u003cp\u003eOceanus 69\u003c\/p\u003e \u003cp\u003eNotes 72\u003c\/p\u003e \u003cp\u003eReferences 72\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Detecting Earnings Management 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAccruals and Deferrals Revisited 74\u003c\/p\u003e \u003cp\u003eAccounts Receivable (Accrued Revenue) and the Allowance for Doubtful Accounts 75\u003c\/p\u003e \u003cp\u003eDeferred (Unearned) Revenue 80\u003c\/p\u003e \u003cp\u003eAccrued and Deferred (Prepaid) Expenses 80\u003c\/p\u003e \u003cp\u003eDeferred Taxes 81\u003c\/p\u003e \u003cp\u003eContingencies and Reserves 86\u003c\/p\u003e \u003cp\u003eParting Comments 87\u003c\/p\u003e \u003cp\u003eCase Studies 88\u003c\/p\u003e \u003cp\u003eHarbin Electric 89\u003c\/p\u003e \u003cp\u003eWest China Cement 98\u003c\/p\u003e \u003cp\u003eChina Biotics 101\u003c\/p\u003e \u003cp\u003eReferences 105\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Detecting Overstated Operating Cash Flows 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding the Cash Flow Statement 108\u003c\/p\u003e \u003cp\u003eUsing Cash Flow to Assess the Quality of Earnings 113\u003c\/p\u003e \u003cp\u003eCash Flow Games 116\u003c\/p\u003e \u003cp\u003eParting Comments 118\u003c\/p\u003e \u003cp\u003eCase Studies 118\u003c\/p\u003e \u003cp\u003eRenhe Commercial Holdings 118\u003c\/p\u003e \u003cp\u003eDuoyuan Global Water 123\u003c\/p\u003e \u003cp\u003eWinsway Coking Coal Holdings 131\u003c\/p\u003e \u003cp\u003eReferences 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Evaluating Corporate Governance and Related-Party Issues 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBoard Governance and Independent Directors 138\u003c\/p\u003e \u003cp\u003eShareowner Rights 139\u003c\/p\u003e \u003cp\u003eInterlocking Ownership or Directorships 140\u003c\/p\u003e \u003cp\u003eRelated-Party Transactions 140\u003c\/p\u003e \u003cp\u003eExcessive Compensation 142\u003c\/p\u003e \u003cp\u003ePersonal Use or Expropriation of Assets 143\u003c\/p\u003e \u003cp\u003eLack of Transparency 143\u003c\/p\u003e \u003cp\u003eAuditor Issues 143\u003c\/p\u003e \u003cp\u003eParting Comments 144\u003c\/p\u003e \u003cp\u003eCase Studies 146\u003c\/p\u003e \u003cp\u003eChina Valves Tech 146\u003c\/p\u003e \u003cp\u003ePUDA Coal 149\u003c\/p\u003e \u003cp\u003eSino-Environment Technology Group Limited 153\u003c\/p\u003e \u003cp\u003eNote 157\u003c\/p\u003e \u003cp\u003eReferences 157\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Summary and Guidance 159\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePutting It All Together 160\u003c\/p\u003e \u003cp\u003eA Recipe for Detecting Cooked Books 163\u003c\/p\u003e \u003cp\u003eParting Comments 168\u003c\/p\u003e \u003cp\u003eCase Studies 168\u003c\/p\u003e \u003cp\u003eCelltrion, Inc. 169\u003c\/p\u003e \u003cp\u003eReal Gold Mining 170\u003c\/p\u003e \u003cp\u003eFibrechem Technologies Ltd. 175\u003c\/p\u003e \u003cp\u003eReferences 177\u003c\/p\u003e \u003cp\u003eAbout the Authors 179\u003c\/p\u003e \u003cp\u003eIndex 181\u003c\/p\u003e  \"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, \u003ci\u003eThe Asset\u003c\/i\u003e\u003cbr\u003e \u003cbr\u003e \"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, \u003ci\u003eThe Asset\u003cbr\u003e \u003cbr\u003e \u003c\/i\u003e\"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, \u003ci\u003eThe Asset\u003c\/i\u003e   \u003cp\u003e\u003cb\u003eCHINHWEE TAN, CFA, CPA,\u003c\/b\u003e 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\u003ci\u003e The Hedge Fund Journal\u003c\/i\u003e as one of the emerging top 40 absolute return investors globally and was also named as Best Asia Credit Hedge Fund manager by \u003ci\u003eThe Asset.\u003c\/i\u003e He is the winner of the 2013 Distinguished Financial Industry Certified Professional (FICP) Award from the Singapore government. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eTHOMAS R. ROBINSON, CFA, CPA,\u003c\/b\u003e 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\u003csup\u003e®\u003c\/sup\u003e), 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. \t   \u003c\/p\u003e\u003cp\u003eFinancial scandals and irregularities can occur globally, but most recently have begun a steady climb in Asia. Until now not much had been documented about these incidents, and there remains a significant lack of corporate governance in these markets. \u003ci\u003eAsian Financial Statement Analysis: Detecting Financial Irregularities\u003c\/i\u003e was created to address this knowledge gap while keeping the global investor in mind. Coauthored by two leading authorities in the field, it is the first ever in-depth study into detecting financial irregularities specifically in the international financial reporting of Asia-Pacific companies. \u003c\/p\u003e\u003cp\u003eChinHwee Tan is highly acclaimed by \u003ci\u003eThe Hedge Fund Journal\u003c\/i\u003e and World Economic Forum and is the founding partner in Asia for a leading global alternative investor, among the largest in the world. Dr. Thomas R. Robinson is Managing Director of the Americas at the CFA Institute and has written and spoken extensively on the subject of financial statement analysis. Together they have created a practical guide for anyone looking to perform effective forensic analysis on the financial statements of Asian companies, generally for the purpose of making solid investment choices. \u003c\/p\u003e\u003cp\u003eThe first section of the book lays out a proven framework for detecting irregularities in profits, financial position, or cash flow. Its subsequent chapters illustrate the most common irregularities in the Asia-Pacific region and some of the warning signs to look for. Each chapter also includes a useful checklist of different analysis techniques, an overview of the most common games that companies play, and a full case study of an Asia-based company to help illustrate the concepts in a holistic manner. The authors' personal experiences in both global and Asian financial markets enrich the text and offer readers a firsthand look at real world scenarios, helping them further scrutinize companies within that same space.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988767031525,"sku":"NP9781118486528","price":110.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118486528.jpg?v=1761781511","url":"https:\/\/k12savings.com\/products\/asian-financial-statement-analysis-isbn-9781118486528","provider":"K12savings","version":"1.0","type":"link"}