“[It] will not be very warm.”
~ FASB Chairman Bob Herz, on the financial services industry’s reaction to the Board’s new proposals for valuing loans and loan-like instruments at their market value.
Related Posts
Quote of the Day | 01.25.10
- Caleb Newquist
- January 26, 2010
“An auditor’s report tells less about a public company’s health than a doctor’s report tells about an individual – in scope, detail and precision. And if investors and other financial information users are not happy, they are doing nothing to make their dissatisfactions effectively known.”
~ Jim Peterson, from his post “Medical Check-Ups and Annual Audits: What if Your Doctor Reported Like Your Accountant?” at Re:Balance.
Small Business Saying Buh-Bye to Sarbanes-Oxley
- Caleb Newquist
- May 26, 2010
“I believe the votes are there whether I like it or not.”
~ Barney Frank, on the House provision that would exempt small and midsized businesses from complying with Section 404.
Quote of the Day: Dear Abby Should Not Be Giving Advice About Taxes | 04.14.10
- Caleb Newquist
- April 15, 2010
Dear Ms. Van Buren:
Your response to “Phobic” about her boyfriend’s tax returns contained a significant error. You characterized enrolled agents as “the only tax specialists licensed to practice before the IRS,” which is not true. The fact is, certified public accountants and attorneys are federally authorized to represent clients before the IRS.
The CPA has long been synonymous with reliable, objective tax preparation and ranks as the preferred tax professional among millions of U.S. taxpayers.
On behalf of the many CPAs who prepare tax returns every year, we would be appreciative if you would print a correction in your column.
~ Tom Ochsenschlager, Vice President – Taxation American Institute of Certified Public Accountants, in response to this.