August 15, 2022

simplification

Debt Issuance Cost Presentation Sure Doesn’t Seem Any Simpler

I like this Tom Selling post about the FASB's simplification of presenting debt issuances costs. I like it mainly because he picks apart the FASB's idea of what constitutes "simplification" as well as the Board's rationale for their decisions to the point where you have a hard time believing that the FASB actually issued this […]

FASB Tries to Simplify GAAP, One Item at a Time

You will note that a bound copy of GAAP comes in at 7,692 pages (as of 2011). By comparison, the Guinness Book of World Records' thickest book published — Agatha Christie's Miss Marple stories — comes in at 4,032 pages. Knowing this, FASB is attempting to shave off a page or two off the beast […]