Financial Accounting Standards Research Initiative

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 i [...] Read more > >

I’ve just finished reading the IASB/FASB exposure draft on revenue recognition, and I have all kinds of questions running through my head. But before I get to those questions, let me first say that I am very impressed with this document. In fewer than 90 paragraphs of guidance (ignoring application guidance), the IASB/FASB have laid [...] Read more > >

The Public Company Accounting Oversight Board (PCAOB) is looking for a PhD student who would like to intern with the Office of Research and Analysis (ORA) in the PCAOB’s Washington DC headquarters. This role will provide support to the quantitative economics group in ORA by assisting in studies and analyses conducted by the group.  This may [...] Read more > >

You can look at the 113 page opinion (pdf), or just accept the New York Times’ summary: The court turned aside a broad challenge to one part of the law, which established the Public Company Accounting Oversight Board to regulate the accounting industry. Some commentators had forecast that the court might throw out the entire law [...] Read more > >

The FASB and IASB released their exposure draft of their proposed revenue recognition standards. From paragraphs IN8 and IN9 of the official document In summary, the core principle [of revenue recognition] would require an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that [...] Read more > >

Read my post from a few days ago on convertible debt. This topic of hybrids has long seemed like low-hanging fruit to me especially for experimentalists who can create conditions that don’t exist in the real world (which is probably what you would need to do for this topic). Any experimentalists out there who understand [...] Read more > >

FROM FORD MOTOR CO.’s 2009 financials. Convertible Debt Instruments. We adopted the FASB’s new standard on accounting for convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) on January 1, 2009. The standard specifies that issuers of convertible debt securities that, upon conversion, may be settled in cash [...] Read more > >

Greg Waymire wrote this obituary for John Dickhaut, which will be forthcoming in Accounting Education News. Please feel free to share your thoughts or reminiscences in the comments. –RJB John Dickhaut passed away April 10, 2010 at his California home following a long and courageous battle with cancer. John was a widely respected member of the [...] Read more > >

We had a financial reporting course coordination meeting today here at UT Austin. We have a concepts course followed by intermediate in all one semester course. We were lamenting on the lack of fair value class / case materials. I have 2 cases that Katherine Schipper wrote for a FASB conference. [...] Read more > >

BANKERS GET OFF EASY… Read more > >