“U.S. GAAP is founded upon principles, that’s what the P is supposed to stand for.” – SEC Chief Accountant James Kroeker arguing at a Pace University IFRS discussion that GAAP is just as principles-based as IFRS.
Related Posts
Who Says Accountants Just Talk About Money?
- Caleb Newquist
- June 5, 2010
“People think that accountants are all white shirts and blue suits and that we just talk about money all the time but we’re not! We’ve got personalities too and I’m hoping my appearance on the show will improve our image.”
~ Christopher Stone (aka the Singing Accountant) is thinking about all of you white shirted, blue suited types out there.
Death to Death Tax Denial
- Caleb Newquist
- October 29, 2010
“We’re confident that a Congress manned with our pledge signers will be prepared to take the necessary steps to pass permanent repeal of this un-American, outdated policy and stand up for small family businesses, the real job creators in our country.”
~ Dick Patten, President of The American Family Business Institute, says the estate tax is toast now that Senate candidates like Sharron Angle, Ken Buck and Rand Paul are on board with the AFBI’s “Death Tax Repeal Pledge.”
FASB Fair Value Proposal Brings the Hate
- Caleb Newquist
- June 17, 2010
“In my mind you are largely responsible for the market collapse in 2007, 2008, 2009.”
~ John Sherman, in a public comment on the FASB’s proposed fair value rule, most of which are really, really, really not nice.