A window into Chinese corporate accounting
September 11th, 2009
I ran across this article in the New York Times regarding Chinese corporate accounting practices. With a market that is trading at roughly 32 times earnings it is troubling to think that the earnings which command such a high multiple are not what they appear to be.
http://dealbook.blogs.nytimes.com/2009/08/17/another-view-shanghai-ed-profits/