“U.S. GAAP is founded upon principles, that’s what the P is supposed to stand for.” – SEC Chief Accountant James Kroeker arguing at a Pace University IFRS discussion that GAAP is just as principles-based as IFRS.
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Quote of the Day | 01.26.10
“The problem with dumping him at this stage is that it won’t really get to the heart of the matter, which is that he’s just one of a cast of characters who need to be ousted. The problem is the ensemble. I think it’s a bit like you’re not liking the cast of Seinfeld, and just getting rid of Elaine.”
~ Gary Weiss on Ben Bernanke, et al.
Amateur Accountants Need Not Apply
“It is the last part of the business I would hand over to someone who is less than qualified.”
~ Barbara Taylor, co-founder of Synergy Business Services, on the accounting function.
KPMG Auditors Working From Home During a Pandemic Was a Major Inconvenience For One CEO
From the Wall Street Journal: [Emerson Electric CEO David Farr] had just gotten off the […]