Empirical data SCF

As I prepared for class, i searched for examples and found a number that had done the treatment incorrectly. I saw a lot of the incorrect treatment on the asset side. I emailed Dan Gode who said the same issue applies to the asset side (i.e., no reason why treatment should be different there). These [...] Read more > >

SCF insights….

So in this post, I’ll provide the mechanics of the issue. In my next post, I’ll provide “empirical data.” Bond issued at a discount. Say a bond is issued for $90 and face value is $100. Say interest payments are $5 each period for five periods, and then the bond is repaid. To make it [...] Read more > >

The Law Made Me Do It

First China Pharmaceutical Group, Inc.  The company acquired XYT, and in doing so, ended up with a note receivable from the CEO and Chairman of XYT.  The company recorded the note as an asset.  Upon further review, the SEC “requested the Company remove the note as an asset and restate it against retained earnings.”  After [...] Read more > >

Updates from the FASB meeting on the Disclosure Framework Project

On August 24, the FASB held a meeting which included a discussion on the disclosure framework. The disclosure framework project has been broken up into three parts: a decision process for disclosures related to financial statement line items, a decision process for disclosures about the general entity, and a decision process for disclosures related to [...] Read more > >

The IASB and Academics

I am not so sure how the IASB and its governing foundation view academics, and I wonder what this portends for future standards if the IASB ascends to the role of chief standard setter for the world.  A few recent events send positive signals. First, at the AAA meeting, I attended a session in which [...] Read more > >

I have an opinion on "subsequent events" !!

Okay, this is supposed to be a blog. I have an opinion on SFAS 165 on subsequent events, transplanted from the auditing domain. But deep down in the opinion is a question… So the new standard (my read) indicates that if information comes to the plate regarding an “event” that existed at the balance sheet [...] Read more > >

Very good information for class – Dell's issues

Read through this, get exciting nuggets for your class! Read more > >

Here's another good one

Hi everyone, Just last week, I signed up for another CPE session at AAA (recall that I previously posted about FASB/IASB update on Sunday and how you need to be there!!). Anyway, I thought I was going to be goofing off on Saturday afternoon in San Francisco but then my goof-off plans fell through. So [...] Read more > >

And why aren't you…

Signed up to attend the FASB/IASB update on Sunday at the AAA in San Francisco. For the last many years, probably 10, i have attended and it’s a HUGE benefit to me in my teaching and research. I get up to speed in a very efficient way, and i hear it straight from those who [...] Read more > >

Why isn't there …

The other day, a PhD student here at Texas asked me for an advanced accounting book that had deferred tax coverage in it. She’s a tax person and was wanting to re-fuel her knowledge of this area before she started her summer paper. I laughed and said good luck on that one! I just started [...] Read more > >