Asian Financial Statement Analysis - Hardcover

by Chinhwee Tan (Author), Thomas R. Robinson (Author), Howard Schilit (Foreword by)

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 rules
• The most common irregularities in the Asian market
• Similarities and differences between U.S. and Asian accounting techniques
• An overarching framework for irregularity detection

The 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.

Front Jacket

Financial 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. Asian Financial Statement Analysis: Detecting Financial Irregularities 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.

ChinHwee Tan is highly acclaimed by The Hedge Fund Journal 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.

The 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.

Asian Financial Statement Analysis: Detecting Financial Irregularities helps professionals navigate the intricacies of investing in Asian business ventures as they look to expand their investment portfolio. It not only offers a comprehensive look at detecting irregularities regardless of accounting rules, but also helps transition professionals into the next phase of global reporting standards. The book is the only resource financial professionals need to better guarantee wise investments and avoid corrupt business practices in the unique Asia-Pacific region.

Back Jacket

Financial 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. Asian Financial Statement Analysis: Detecting Financial Irregularities 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.

ChinHwee Tan is highly acclaimed by The Hedge Fund Journal 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.

The 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.

Author Biography

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^(R)), 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.