• 15M+ taxpayers could unexpectedly owe taxes – That’s never good. [NYDN]
• GMAC Chief Resigns – The Board was sick of “just one more round of TARP and that’s it” routine. More fun facts here. [WSJ]
• The Return of Bell Bottoms – Homebuyer credits, bell bottoms, and drugs. [Tax Update Blog]
• Battle Lines Drawn Over Who Governs Accounting Rules – FASB…it’s…all…slipping…away… [Compliance Week]
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Review Comments | 08.20.09
• ‘Cash for Clunkers’ to End Monday – “The move comes as the department tries to get an accurate accounting of how much money is left in the program, formally called the Car Allowance Rebate System.” Auditors needed? [WSJ]
• Benmosche Says He’ll Rebuild Units to Repay U.S. – That’s a bold statement. [Bloomberg]
• Harold Ramis Answers History’s Most Burning Question – “One Microsoft Excel owner recently speculated that Bill Murray’s character spent a total of eight years, eight months, and sixteen days reliving the same 24-hour period in Groundhog Day.” Okay, which one of you is wasting your billable hours on this? [Vulture]
• The problem with PowerPoint – Where do you start? [BBC]
• In a first, Starbucks lowers price of some drinks – Everybody breathe…Okay, got get one. [Reuters]
• Will Bank Regulators Diverge from GAAP? – Why the hell not? It’s not like anyone wants to converge with anyone else, anyway. [CFO]
Review Comments | 12.08.09
• Allyson Baumeister Elected to Board of Directors, American Institute of Certified Public Accountants – The best perk of such a position would be the opportunity to rub elbows with Ben Bankes. [Sanford Baumeister & Frazier Press Release]
• Audit Committee Comp Influences Auditor Support – “The study found that audit committee members are more likely to support the auditor, as opposed to management, in an accounting disagreement when audit committee compensation includes long-term stock options.” [Web CPA]
• The Mid-Quarter Trap – More year-end wisdom from Joe Kristan. [Tax Update Blog]
• GM board moving fast on CEO, CFO hires – Spencer Stuart is on the hunt if you’re interested… [Reuters]
• G.M. Will Consider Lump Sum Payment to U.S. – …but you’ll have to deal with this. [DealBook]
Review Comments | 07.16.09
• Lawmakers End Questioning Of Sotomayor – “The Senate Judiciary Committee wrapped up Thursday its questioning of Supreme Court nominee Judge Sonia Sotomayor. Republican senators asked Sotomayor again whether she would rule on cases based on her beliefs, and she assured them she would apply the law and court precedent.” [NPR]
• Donaldson, Levitt Back FASB Off-balance-sheet Rules – “An ‘investors’ working group’ co-chaired by former Securities and Exchange Commission heads William Donaldson and Arthur Levitt Jr. has called for new Financial Accounting Standards Board rules on off-balance-sheet transactions and securitizations to be implemented ‘without delay.'” Without delay to the FASB means, sometime before the next decade. [CFO.com]
• Jamie Dimon on CIT’s Troubles – Natch, he’s cool with them biting the dust [DealBook]