Re: CIBC selling us down
in response to
by
posted on
Mar 02, 2011 11:40AM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
What development ore?...San , through Gov flowthrough tax deductions was able to raise enough cash to develope into these massive hinges. The down side to this is how the accounting is recorded on the financials. All oz"es in this development ore is considerd development oz and cannot be considered production oz . San" s payroll considering 300 staff and 200 contractors plus mining cost can be expense to these development oz found. I believe San has carried forward some development oz for future bookkeeping..PS; Mining in Canada is most favourable because of the Tax benifits, not centering out San here, but how a Company plays with their balance sheet is a win fall for them as who is to say the oz were Development or were they production oz. The company can play the game the way that best suits their needs. Forensic Accounting in mining is big bussiness Canada, with out prejudice Traps7
t h eme
Discovering Fraud in Forensic Accounting Using Data Mining Techniques F
inancial fraud has become
a common phenomenon collapsing many companies, and weakening the economy. Fraud includes an array of irregularities and illegal acts characterised by
intentional
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nancial
data or other accounting activities, for evidence to be suitable for the purpose of establishing accountability and/or valida
tion
of the activities of the firm.
It differs from regular auditing.
Auditing focuses on a sample
of transactions, checks whether
the information disclosed by
the financial statements is sup
ported
by adequate material
and makes qualification in audit
report in case of any deviation,
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