“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.
Related Posts
Some People Need to Get Some Perspective on This Tax Cut Compromise
- Caleb Newquist
- December 15, 2010
“The fact that the Republicans got a reduction in the death tax from 55 percent to 35 percent I think made the deal even better. […] I’m a little surprised that some Republicans are scoffing at it.”
~ Steve Forbes can’t quite believe what he’s hearing.
Yes, It’s Perfectly Fine to Call Me While I’m on Vacation
- Caleb Newquist
- June 16, 2010
“It’s been my experience that an ‘out of office’ response means nothing anymore.”
~ Edward T. Creagan, a medical oncologist and writer of the Mayo Clinic Stress Blog.
The IRS Outreach to Nonprofits Didn’t Go So Hot
- Caleb Newquist
- May 19, 2010
“The IRS has conducted an unprecedented outreach effort in the tax-exempt sector on the 2006 law’s new filing requirements, but many of these smaller organizations are just now learning of the May 17 deadline.”
~ Doug Shulman, IRS Commissioner