FASB issued Accounting Standards Update No. 2011-03 to improve the financial reporting of repurchase agreements, also called “repos,” or other transactions that govern the transfer and repurchase of financial assets. The new guidance gives companies some new parameters to consider in determining whether a transfer is in fact a sale of an asset, and therefore qualifies for sale treatment, or whether an entity has retained some control over the asset and therefore cannot claim to have sold it. [CW]
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Five Questions with the Jr. Deputy Accountant
You’re probably not aware of this but the Jr. Deputy Accountant (aka Adrienne Gonzalez) has been working outside her normal confines of the Bay Area this week in an undisclosed location.
While her current location is a mystery, what’s not up for debate is her ability to opine (frequently with too many words) on all things Federal Reserve, church accounting or the CPA Exam.
Besides her daily chores at GC, JDA has been published at a plethora of other blogs including Goldman Sachs 666 and BankFailFriday
.
Why do you blog?
For the same reason people play Grand Theft Auto; it helps to have a productive outlet for my frustration with our regulatory and banking system. That and I’m an attention whore.
What are your three must-read accounting blogs and one must-read non-accounting blog?
I love Krupo.ca, Skeptical CPA, and The Summa. For non-accounting, I’d have to say either Lew Rockwell or Daily Reckoning for my daily dose of doom and gloom. I’m obviously a miserable bastard.
If someone had to read just one post of yours which one would it be?
I’m partial to my recent “Fed Year in Review” but with almost 2000 posts, how the hell am I supposed to pick favorites? “You Want to Audit the Fed But Why?” is also a favorite of mine.
Accountants are…
Awesome because they pay my bills.
The biggest issue facing accountants today is…
Globalization. It’s the vampire lurking outside of accounting’s window whispering “let me in” and too few accountants are focused on the impact. IFRS adoption in the United States is a perfect example of what happens when we bow to global expectations in financial reporting and accounting. I of course don’t believe we need to bow to anyone.
Senator Calls Bullsh*t on Guy Claiming Heavy Regulation Is to Blame For the Auditor Shortage
Sometimes people ask “why do you write about things happening in Australia on an American […]
The Second Tier of Vault’s Accounting 50 Has More Familiar Names
As promised, we’re presenting the second half of Vault’s Accounting 50, which has a lot of familiar names at the top of the second tier.
26. Plante & Moran, PLLC – Southfield, MI
27. J.H. Cohn LLP – Roseland, NJ
28. Eisner LLP – New York, NY
29. Clifton Gunderson LLP – Peoria, IL
30. Crowe Horwath LLP – Oak Brook Terrace, IL
31. BKD, LLP – Springfield, MO
32. Weiser LLP – New York, NY
33. Baker Tilly Virchow Krause, LLP – Madison, WI
34. Amper Politziner & Mattia, LLP – Edison, NJ
35. LarsonAllen LLP – Minneapolis, MN
36. Anchin, Block & Anchin LLP – New York, NY
37. Novogradac & Company LLP – San Francisco, CA
38. UHY Advisors, Inc. – Chicago, IL
39. Wipfli LLP – Milwaukee, WI
40. Beers + Cutler PLLC – Vienna, VA
41. Marks Paneth & Shron LLP – New York, NY
42. Citrin Cooperman & Company, LLP – New York, NY
43. Margolin, Winer & Evens LLP – Garden City, NY
44. Stonefield Josephson, Inc. – Los Angeles, CA
45. Blackman Kallick – Chicago, IL
46. Aronson & Company – Rockville, MD
47. Schneider Downs & Co., Inc. – Pittsburgh, PA
48. Burr Pilger Mayer, Inc. – San Francisco, CA
49. Watkins, Meegan, Drury & Company, L.L.C. – Bethesda, MD
50. Frank Rimerman & Co. LLP – Palo Alto, CA
As we said this morning, we’ll dig into some of the particulars on all these firms in a series of posts and point out any past stories we’ve done in these here pages for additional color. For now, feel free to comment on the second tier.
Earlier:
Vault’s New Accounting 50 Ranking Has Plenty of Surprises