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ANR: Better Hedge Accounting in Your Future?; Deloitte Catches a Break on MG Rover Decision; Millennials’ Spending Habits | 11.20.13

In $13 Billion Settlement, JPMorgan May Have Gotten a Good Deal [DealBook]
May have gotten a good deal? "Yes, these are big numbers for newspaper headlines," said Jeffrey Lewis, a senior portfolio manager at TIG Securitized Asset Fund. “But relative to the losses, they could have been bigger."

Why Believe What the Government Says About JPMorgan? [Bloomberg]
Jonathan Weil: "[The] admission doesn't harm JPMorgan in the slightest. Receiving information isn't the same as knowing you received it when you received it. It falls far short of the proof that would be needed to prove a claim of fraud."

IASB releases new rules to better reflect hedge accounting [JofA]

SEC and PCAOB Team to Combat Accounting Fraud [AT]
Rest easy everyone.

Bewitching first novel by ex-accountant casts £1m spell on world of books [Guardian]
Life after accounting, people. Life after accounting.

Deloitte granted appeal on MG Rover tribunal decision [Accountancy Age]
Partially. Of the two projects in this case — Project Aircraft and Project Platinum — only Project Aircraft is being reviewed.

Survey Finds Friends Determine Millennials' Financial Habits [AWEB]
How are the Joneses doing?

The Most Successful Tax Reform in History [Bruce Bartlett via TaxProf]
Not 1986.

Watch Videos Of The Bear In A Lamborghini That Shut Down Traffic [Jalopnik]
A pic-a-nic basket heist, no doubt.

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