China Accounting Tricks and treats

Posted: November 21, 2013 in Uncategorized
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One of the outcome of the Third Plenum is that there will be 5 major accounting standard adjustments between now and start of 2015.

While that is all good as they are trying to bring up the always dodgy accounting standard to more international standard.

Well all is good what finishes good. These changes will also bring increase of GDP numbers by +5%…the markets will be happy.

By the way, not just the Chinese are dodgy. The US revised this year its accounting standard and added +3% to its GDP.

It’s all legal, all false.

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