How Accounting, Stop Groaning, Will Save the World [Bloomberg]
Jacob Soll, who wrote the op-ed in the NYT we linked to on Monday, had an interesting interview with Bloomberg that includes this: "In the 1960s, in the U.S., [an accountant] was still a sought-after job. But I think Andersen, by taking accounting out of the Ivy League schools and making it Midwestern and non-elitist, in some ways damaged it culturally. It was no longer this elite thing."
He's replacing Wally Gruenes, who is the new OMP in Dallas.
Not to recruit, however: "The consultants are conducting the first phase of a $2.45 million review of Iowa’s three public universities, which include UI, University of Northern Iowa in Cedar Falls and Iowa State University in Ames. The Iowa state Board of Regents — which oversees the state’s public universities and two specialty schools — hired Deloitte in February to conduct the largest-ever efficiency study."
Revenue recognition: Do companies have enough time for implementation? [JofA]
General Electric's Controller and Chief Accounting Officer Jan Hauser doesn't think so: “I think we’re going to need potentially more time than what we’re being allotted in implementing the standard,” Hauser said at the [Financial Reporting Conference at] Baruch conference. “We thought we would have had it out quite a while ago and had a lot of time. And particularly for companies that actually want to think about full retrospective or are needing to change systems … it’s a huge undertaking.”
Tax Subsidies for Health and Housing Top $600 Billion [Tax Policy Center, PDF]
Total tax expenditures for fiscal year 2014 are $1.4 trillion.
The heavy hand of the IRS seizes innocent Americans’ assets [WaPo]
I can't stand George Will but his post on civil forfeiture is excellent.
Bill Clinton: 'I Thank God Every Day That Hillary and I Live in NY and Pay the Highest Aggregate Tax Rate in America' [TaxProf]
The Best Google Docs Features You're Probably Not Using [Lifehacker]
No Office necessary.