Since FASB Statement No. 13 was issued in the mid-70s, businesses have managed to develop a […]
Category: Financial Reporting
God Only Knows Why Most Companies Still Manually Reconcile General Ledger Accounts
A recent report released by Robert Half and the Financial Executives Research Foundation found that "nearly […]
Nice Neighborhood Dad Named New FASB Chairman
Russell Golden will be your new FASB Chairman effective July 1st. He's been at the […]
At Best, FASB’s Credit Loss Proposal Could Result in Earnings Management; At Worst, FASB’s Credit Loss Proposal Could Result in Lots of Earnings Management
The idea behind the FASB's credit loss proposal is that it would require banks to […]
Maybe We Should Just Let the Banks Write Their Own Loan Loss Accounting Rules
Banks really appreciate the effort to move away from the recognition of losses as they […]
IFRS Foundation’s Cool Club Doesn’t Require Support of IFRS, Rather Something That Would Closely Resemble IFRS
Back in November, the IASB threw out this Accounting Standards Advisory Forum idea that would […]
“Adjusted EBITDA (As Adjusted)” Is Our New Favorite Non-GAAP Measure Being Used By a Real-life Company
Today in creative accounting news, Jonathan Weil has the absurd notion that some company would use […]
FASB Still Applying Duct Tape to Repurchase Accounting
Apparently Accounting Standards Update No. 2011-03 didn't quite hold things together as well as people […]
Study: Rules-based Accounting Shields Firms From Lawsuits
According to groundbreaking research by Richard Mergenthaler, assistant professor of accounting at the University of […]
Ex-Nortel CFO Rendered Speechless After Accounting Fraud Acquittal
An Ontario judged dismissed a case against three former Nortel Networks Corp. executives who were […]
BOOYAH! SEC Goes After TheStreet for Multiple Accounting Infractions
Hmm, wonder if Jim Cramer will mention this on his show tonight? The Securities and […]
ICYMI: Here Are Some Accounting Execs Talking About How Useless XBRL Is
The mandatory use of eXtensible Business Reporting Language by large public companies began in 2009 […]