Synopsis
This series is about gaining a deeper understanding of how companies report numbers and hide the reality of their business. It aims to go beyond the numbers to the decisions, judgements, and assumptions behind them. By following these insights, investors can become better at analysing financial statements (if they even think that is important), spotting risks, and making informed decisions. Why is this important to know? Look at the number of start-ups that, at the time of their IPOs, announce that they have made profits – only to report losses the very next quarter, and justify them. And not only start-ups. There are many in the listed space who do this – again and again.
Consider this scenario: A company revalued land, including portions that were ineligible for revaluation because they were leasehold. Such land cannot be revalued as an asset as the company does not have full ownership rights and cannot realise its value through sale or transfer.This results in an overstatement of fixed assets. And, basically, the revalued assets and the whole financial statement simply cannot be believed. This is not happening
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