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Law-Abiding Porn Enthusiasts in Utah Dealt a Blow

Posted on October 13, 2010 by Caleb Newquist

“The Supreme Court won’t stop Utah from enacting a 10 percent tax on everything sold by adult-oriented businesses to pay for sex-offender treatment.” [On the Money/The Hill]

Posted in NewsTagged adult-oriented businesses, Porn, SCOTUS, Sin taxes, State tax policy, Utah

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Previous: Meet Hans Hoogervorst, Your Next IASB Chairman
Next: Accounting News Roundup: Hans Has His Work Cut Out; Paladino Trickster Owes Back Taxes; Rand Paul Wants IRS Abolished | 10.13.10

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  • Firm Watch
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A Firm With 55 People Finds Itself at the Center of a Data Breach Affecting 127,431

  • Going Concern News Desk
  • October 2, 2024

It seems like every other day we’re seeing a new story about an accounting firm […]

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Sir David Tweedie’s Accounting Rock Star Status Is Safe Despite His Failure to Converge Standards

  • Caleb Newquist
  • June 23, 2011

In case you forgot, Sir David Tweedie is retiring next week as the head of the IASB. It’s been quite a run for Tweeds and good money says his friends at the Board will send him off in style worthy of a knighted Scotsman (read: getting him blind drunk and some hooliganism). He’s had many accomplishments in his time running the IASB but there’s one goal that will ultimately elude him when he hangs up the eyeshade. That is the dream of converged accounting standards. It certainly has been a noble quest worthy of his accounting “rock star” status but you can’t help but imagine that you might happen across SDT in a pub muttering to himself over a pint about “the one that got away.”

Sir David’s biggest project has been convergence of IASB’s rules with those of America’s Financial Accounting Standards Board (FASB). The two had set a June deadline, timed to coincide with Sir David’s retirement, to iron out their differences. That won’t be met.

Just because he won’t reach his ultimate goal that doesn’t mean Tweeds hasn’t tried. Or been BEEN INFINITELY FUCKING PATIENT with the Yanks.

But you can’t do it all. So now the task of accounting rule copulation will now fall to Dutchman Hans Hoogevorst but if Sir David is feeling a little like a failure, he should know that there are people out there still think he’s pretty badass since he got the SEC to come to the table:

Sir David should not be too disappointed that convergence is not complete. That the process has come as far as it has—and that America’s Securities and Exchange Commission might decide later this year to adopt IASB’s standards—is something no one could have predicted ten years ago, says Nigel Sleigh-Johnson of the Institute of Chartered Accountants of England and Wales.

So enjoy your retirement, oh knighted one. Your double-entry immortality is secure.

The balladeer of the balance-sheet [The Economist]

  • News

Friday Footnotes: Recovering From Work Outbursts; Auditors and Shoes; Words to Eliminate | 05.08.15

  • Caleb Newquist
  • May 8, 2015

Don't forget Mother's Day this weekend, capital market servants. Also, remember to follow us on Facebook, Twitter […]

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