Hi everyone, So i was yabbering on and on today in class about the risk & uncertainty items in the financial statements & notes … and those in the MD&A. I was saying the MD&A, which is in the front end of the annual report, etc… blah blah blah. A student came up and said [...] Read more > >
If you read our ABOUT page at the top menu of the FASRI website, you will see that FASRI doesn’t just lead discussions about accounting research (as fascinating as that may be). We also actively support researchers who are willing to work with FASB staff to conduct original research studies. At next week’s Round Table [...] Read more > >
A few weeks ago, in a post entitled “Why Do Standard Setters Make Such Awful Decisions?,” I cited Zoe-Vonna Palmrose as one of several academics who think that the FASB’s embrace of fair-value accounting is so obviously mistaken that even children could see it. Bill Kinney pointed out that my recollection of Zoe-Vonna’s 2005 presentation [...] Read more > >
A few weeks ago, in a post entitled “Why Do Standard Setters Make Such Awful Decisions?,” I cited Zoe-Vonna Palmrose as one of several academics who think that the FASB’s embrace of fair-value accounting is so obviously mistaken that even children could see it. Bill Kinney pointed out that my recollection of Zoe-Vonna’s 2005 presentation [...] Read more > >
Need to know about new securitization rules for your classes this fall? Have no fear! Check out this webcast being offered by the FASB, which promises to be an excellent chance to catch up on the new rules related to securitization: Read more > >
The FASB has approved an Editorial Assistant position for FASRI.net. This highly visible job provides an excellent opportunity for someone who likes writing and is interested in policy-oriented accounting research. While the details of the position will be open to modification, based on the interests of the applicant and the changing needs of FASRI, key [...] Read more > >
On Tuesday, August 25th, 4 pm ET, we will be joined by Ted Christensen and Jeff Wilks (both of Brigham Young University) as we discuss the FASB and IASB’s proposed changes to revenue recognition. As you may know, Jeff played a significant role in the FASB/IASB joint project on revenue recognition during his time as [...] Read more > >
The comment letter deadline for the IASB/FASB discussion paper on revenue recognition was June 19, 2009. The staff recently presented a high-level summary of the 200+ comment letters received by the boards. Given my recent posts (July 30 and Aug. 11) on the AAA FASC’s comment letter, I thought it might be useful to consider [...] Read more > >
I have been diving in to the FASB’s (and IASB’s) newly-energized discussions on cash flow reporting. One of the most contentious aspects of the issue is that users want direct cash flow data that reports the inflows and outflows, broken down by the function and nature of the spending. For example, is that cash outflow [...] Read more > >
I have been diving in to the FASB’s (and IASB’s) newly-energized discussions on cash flow reporting. One of the most contentious aspects of the issue is that users want direct cash flow data that reports the inflows and outflows, broken down by the function and nature of the spending. For example, is that cash outflow [...] Read more > >