Table of Contents
Acknowledgments ix
Preface xi
1 Unacceptable State of Affairs 3
2 Ponzi Schemes 9
3 Sino-Forest: Why Us? 16
4 The Hercules Managements Case 33
5 Evolution of Canadian Financial Trickery 39
6 The Basics of Scam Detection 44
7 Interest Rate Manipulation 62
8 Yield Scams 76
9 Cash Flow Games 88
10 Nortel and Its Clones 99
11 Related Party Nastiness 110
12 The Saga of Castor Holdings 119
11 Revenue Trickery 132
14 Time for a Pause 141
15 Conning Financial Analysts 147
16 Potentially Troublesome Scenarios 159
17 Unproductive Audits? 167
18 The Livent Inc. Case 181
19 IPO Traps 192
20 Watch for the Usual Suspects 200
21 Canada's Slippery Slopes 208
22 The Party Line 220
23 IFRS in a Nutshell 226
24 Conceptual Flaws of IFRS 242
25 Deficient IFRS 265
26 REITS and Cash Flow: More Misleading IFRS 275
27 IFRS and Extractive Industries 283
28 IFRS Financial Analysis 293
29 IFRS Analysis in Action 301
30 Typical IFRS Traps 315
31 Perpetual Ponzi Corporation 326
32 IFRS vs. Old GAAP 335
33 Government Neglect 344
Appendices
1 Financial Statements Explained 353
2 Hercules Immunizes Canada's Financial Statement Auditors 360
3 Stock Market Rides 367
4 Mainstreet Equity Corp. Illustration 371
Additional Reading/Viewing 375
Index 377