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February 2, 2023

Accounting News Roundup: New Lease Accounting and Debt Covenants; Kill the Recurring Meeting; Counting the Irish | 03.17.15

IASB Downplays Lease Accounting Rules Impact on Debt Covenants [CFOJ]
And a guy from Grant Thornton agrees! "Most debt agreements also have clauses stating borrowers wouldn’t be in breach of covenants if accounting conventions change, said John Hepp, a partner in Grant Thornton LLP’s accounting principles group. But he warned that some debt agreements might not have taken accounting changes into account. 'There’s the possibility some have fallen through the cracks,' he said. 'But I hope a sophisticated market participant' has already anticipated the issue."

Uber CFO Brent Callinicos Stepping Down [WSJ]
Travis Kalanick makes excellent use of the pun to describe Brent Callinicos's departure: "Brent has done a wonderful job here at Uber but has decided that it is time for his next journey, one where his wife and daughter take the front seat."

Most Internal Auditors See Role Becoming More Strategic [CFO]
Not to mention that they're overworked and underpaid!

And another 100M just like an excuse to get blind drunk.

How to Finally Kill the Useless, Recurring Meeting [HBR]
Stop including so many people: "[T]he biggest driver of overall time spent in meetings was the result of too many attendees."

The match-up you’ve been waiting for: Evander Holyfield vs. Mitt Romney [WaPo]
Okay, then.

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