“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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Memo to Big 4 Partners
- Caleb Newquist
- May 12, 2010
“Overtime-induced work stress might contribute to a substantial proportion of cardiovascular disease.”
~ Gordon McInnes, professor of clinical pharmacology at the University of Glasgow’s Western Infirmary.
Tax Policy Rhetoric Déjà Vu
- Caleb Newquist
- September 9, 2010
“Watching this speech, I’ve determined that Obama will win the 2008 election.”
~ Philip Klein has heard this before, although John Boehner subs for George W. Bush.
Accounting = Weapons of Mass Destruction
- Caleb Newquist
- July 20, 2010
“Accounting is the CEO’s “weapon of choice” that transforms the perverse incentive into what economists, regulators, and criminologists agree is a “sure thing” in crises (means).”
~ William K. Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City.