When accounting goes unaccounted for
“During the course of the financial crisis, we made our fair share of mistakes. We lost a considerable amount of money through our exposure to leveraged loans and mortgages.”
~ Goldman Sachs CFO David Viniar, in his opening statement before the Financial Crisis Inquiry Commission.
On second thought, the whole kicking clients in the face and cannibalism thing will probably […]
“The primary result of the convergence project has been to take a set of perfectly mediocre accounting standards (U.S. GAAP) and messed them all up.”
~ Professor David Albrecht, who isn’t quite ready to dance on the grave of accounting convergence.
“I started to read the Internal Tax Code like I used to study the Bible.”
~ Bob Gorman, religious teacher turned tax professional.