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February 2, 2023

Accounting News Roundup: Pay Ratio Rules; Toshiba Apology Tour Continues; New GASB Rule Exposes Government Waivers | 08.05.15

Pay Ratio Rules Head to Final Vote on Wednesday [CFOJ]
Companies maintain that compliance with the rules will be onerous and costly.

Toshiba CEO apologises to Japan PM office for accounting scandal [Reuters]
Masashi Muromachi met with an aide to Shinzo Abe to apologize for "inconveniences caused," by Toshiba's accounting scandal.

New Rule to Lift Veil on Tax Breaks [WSJ]
GASB's new rule "will require government officials to show the value of property, sales and income taxes that have been waived under agreements with companies or other taxpayers."

ISU Says Little About Huntress Accountant [AP, Earlier]
"This is not an Idaho State University matter. While the individual in question is an employee, her personal choices are not representative of the University."

New KPMG managing partner Christine Aspell wants more women climbing the corporate ladder [BBJ]

Perception of the Military Reserve? [Open Items]
Hot off the presses this morning: "I would like to hear about how military service is perceived in public accounting and the Big Four."

How GAAP and IFRS Succeed in Overstating Bank Capital without Really Trying [Accounting Onion]
"The objective of loan accounting under GAAP or IFRS is not to produce economic income. It is to produce the income — and measures of capital — that bankers wish to produce."

This 110-Year-Old Woman Says The Secret To Her Long Life Is Drinking Three Miller High Lifes Every Day [BF]
And a shot of Johnnie Walker.

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