Accounting News Roundup: Tax Shaming Corporations; Grant Thornton Explains Busy Season; Mount Rushmore, Tax Prof Edition | 02.19.14

Blaming Big Corporations Is Not the Answer [Tax Analysts]
David Brunori is sick of the tax shaming: "American companies making profits overseas have little reason to bring the money home. Their keeping money overseas to escape taxation is rational. Making IBM out to be the bad guy — which other media reports also have done — misses the mark. Following the law is hardly a corrupt activity."

One does not simply explain busy season.

FASB in Nearly Full Retreat on Accounting for Financial Instruments [CW]
When the going gets tough, give up! "Nearly nine years after FASB set off on a long journey to overhaul the accounting for financial instruments and align it with international practices, the trail has led right back to the current rulebook. The board has scaled back plans for a complete overhaul and now searches for a way to simply smooth the rough edges of existing U.S. standards."
 
Tax Prof Mount Rushmore [TaxProf]
Bittker, Eustice, Ginsburg, Surrey.
 
Brian McKnight Lawsuit — My Accountant Ruined My Life [TMZ]
The latest in I'm-a-celebrity-suing-my-accountant news.
 
There's A Clown Shortage: Who Will Fill Those Big Shoes? [NPR]
Possibly a good career move for some of you.

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