Accounting for revenue — one thing that every company has, or at least needs if it is going to stay in business — will be significantly changed in 2017, the two boards that set accounting standards for companies in most major countries around the world announced on Wednesday.
"The overall grading of bank and building society audits is, and continues to be, generally below those of other types of entity," the FRC said.
Oh not this again.
Meanwhile, in Europe…
Ernst & Young has bought LogiStar Solutions, a fast-growing provider of SAP supply chain implementation as it continues to expand its re-entry into the consulting world. EY did not disclose financial terms of the transaction.
Democrats in Congress are trying to block companies from cutting their tax bills by moving their legal address outside the U.S. through a merger. Companies are forging ahead anyway. “We’re working on a lot of deals that have this element to it,” said Robert Profusek, head of the mergers and acquisitions group at Jones Day in New York. “Nobody’s said, ‘Stop the music.’”
Woman Hit By Flying Buzzsaw in Midtown Manhattan [Gawker]
"I was on the right side of the sidewalk, suddenly everyone started yelling 'Get down! Move!'" witness Matthew Bisi told NBC New York. "It was just like crazy chaos. People screaming, all the construction workers."