Thanks William:
If you had told me in "CPA talk" I'd have no idea what you were saying. <g>
I'm doing this from memory on ADR's, but as I recall a company must
meet certain minimal standardized accounting practices to be granted
ADR status. So, CHL , HKT , TYR, etc would have to do so, IF I am
remembering correctly.
On many of the detailed financials I've seen, there are notes regarding exceptional items. There is one or two at the bottom
of the Cheung Kong financial statement I posted.
I'm not disagreeing with you. I have read that an investor cannot apply US accounting principals to the financial statements of
many foreign stocks in various countries.
Without getting too detailed, I basically look at only a few per
share numbers anyway: cash/revenue/debt . Asset valuations are,
to me, meaningless because of the wide difference in accounting value
and "real" value. Same with things such as "goodwill". Goodwill is
only worth something if you are doing well... and that is reflected
in cash & revenue. <g>
regards,
Doug
(You can tell I'm not an accountant) |
