New issue of China Briefing looks at Chinese financial reporting
The November issue of China Briefing is out now, available for free download here. The issue looks at Chinese financial reporting and is part of our due diligence series of topics which began last month with a look at legal due diligence. With several different areas to contend with from internationally accepted norms, a lack of independent rule of law, differing GAAP standards, and low standards of financial educational understanding, Chinese financial reporting can be a quagmire to get to the bottom of. In this issue, we explain some of the more common issue, highlight what to look out for and go through a case study of Chinese financial statements.
China GAAP vs. U.S. GAAP and IRFS standards
Common areas of misrepresentation
Typical Chinese balance sheets and income statements explained
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