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Message: Re: CIBC selling us down

Feb 28, 2011 01:53PM

Feb 28, 2011 02:45PM
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Feb 28, 2011 05:45PM
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Mar 02, 2011 12:47AM

Mar 02, 2011 10:28AM
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Mar 02, 2011 11:25AM

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

deception. Frauds related to receivables,

vendor, payroll, and

expense are some of common

business frauds taking place in

companies. In this context, forensic

accounting plays an important

role in detecting these

frauds otherwise not found out

in internal auditing by employing

accounting, auditing, and investigative

skills.

Forensic accounting is the

action of identifying, recording,

settling, extracting, sorting,

reporting, and verifying past fi

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,

error, omissions, or exaggerated

assertions etc. The basic objective

of auditing is not to detect

fraudulent transactions. Forensic

accountants on the other hand

searches for exceptions, oddities,

irregularities, patterns, and suspicious

transactions. There are no

standard procedures, checklists

and controls in forensic accounting

to discover these frauds,

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