Replies to post #50178 on E-Waste Systems Inc. (fka EWSI)

[DrHarleyboy]

Eco,

This has proven to be a massive undertaking. As a consequence Chinese companies who offer shares for sale in the United States used to be required to prepare three sets of statements, one using Chinese accounting standards (China GAAP), one using international standards (IFRS), and one using North American GAAP standards (US GAAP). However, since 2008 the U.S. Securities and Exchange Commission (SEC) allows foreign private issuers to use financial statements prepared in accordance with IFRS.[1]

This is what people are arguing about. Now, EWSI is not a Chinese company who offers shares for sale in the US. E-Waste is a US market listed, U.S. based securities issuer. The accounting issues discussed here are mainly of this variety and therefore, have nothing to do with EWSI, thus considered Off-Topic. I hope this clears up the issue.

Almost every Major US Corporation does business in China without accounting issues. The issues are stemming from Chinese Companies trying to sell shares on U.S Securities Markets with their old accounting standards.

http://www.foxbusiness.com/industries/2012/01/03/most-popular-american-companies-in-china/

Dr H