Overcoming the Five Stages of Lease Accounting Grief
When Thomson Reuters reported late last year that the Financial Accounting Standards Board (FASB) had proposed an eighth round of changes to lease accounting rules1, accounting and finance execs around the country channeled their inner Charlie Browns with a collective, “Good grief!” The grief is understandable, although we’re not sure how “good” it is. The […]
Surprisingly, Using Alternatives to ‘STFU, Donny’ in Meetings Not That Difficult
You know how some of your colleagues like to hijack a meeting with something unrelated and it throws everything off track? You know how you wish you could inform them that if they don't shut their big trap you'll be forced to rename them "Donny" so you can address them poignantly when they inevitably interrupt […]
New Hans Necessary If IASB Really Wants IFRS Implemented
This is the fourth installment of our Going Concern freelancer submissions. The following is by Dylan Grey. A little bird has been whispering IFRS in my ear for years…. Discussed at every financial reporting update. Front and center of every annual SEC "Hot Topics" list. Mocked by CFOs across the US. Back in November 2008, […]
David Cay Johnston Has a Plan to End Tax Fraud
If you thought that tax hack David Cay Johnston was going to idly stand by while the country's tax system spins into a ferocious web of inexplicable rules and soaring criminal deceit, you'd be wrong! Oh, so wrong. The bearded man has a plan and in his Reuters column, he explains that it's really pretty […]
Congresswoman Maxine Waters Has a Message for Banks Who Don’t Want to Shape Up
Green Mountain Coffee Roasters Decides That It Might Be a Good Idea to Have Someone Oversee Their Accounting on a Daily Basis
As you may know, Green Mountain Coffee Roasters has had some issues with its financial reporting. So much so that, about a year ago, the SEC asked to poke around. Ever since then, they company has been a favorite of Sam Antar, who has written a slew of blog posts about their shoddy accounting. After a tough year of criticism, it appears the company seems to have found a solution to their double-entry woes – they didn’t have a Chief Accounting Officer!
Green Mountain Coffee Roasters, Inc. […], a leader in specialty coffee and coffee makers, today announced the appointment of Stephen L. Gibbs as its Vice President and Chief Accounting Officer effective immediately. This newly created position has been established to strengthen GMCR’s accounting function and overall financial control environment.
So everything should be on the straight and narrow now. I just hope Mr. Gibbs doesn’t mind being asked awkward questions.
UPDATE: The company is also looking for a Fraud Prevention Manager if you know anyone who is interested.