Round Table Discussion on SMEs, FIN 48, and Private Company Reporting

On Tuesday, Sept 22nd, 4 pm ET, we will be joined by Paul Glotzer. Paul is a project manager at the FASB and has extensive experience working with small companies.  He is also the key liaison with the FASB’s new advisory group, the Private Company Financial Reporting Committee, and is currently working on, among other [...] Read more > >

Did you see this in the New York Times? Blame the accountants

It seems odd that the finger pointing doesn’t stop. Read more > >

Congress Wants To See More of Bob Herz

From the Financial Executives Institute blog (now added to our blogroll), passage by the House of the ‘Promoting Transparency in Financial Reporting Act, H.R. 2664: …among other things, PTFRA would require that, beginning in 2009, and for five years thereafter, annual testimony of the SEC, FASB and PCAOB Chairmen (or their designees) would be provided [...] Read more > >

Fed Accused of Academic Capture–Is FASB next?

Economist-bashing has been a popular sport lately, with current criticism coming from the left.  Paul Krugman weighed in with a long piece in the New York Times, and now the Huffington Post has an article claiming that the Federal Reserve has quashed research critical of its policies by spreading around lots of money and prestige.  [...] Read more > >

Required FV disclosures — do we have inconsistency in measurement?

Do we have inconsistency in application of FV measurement?  No surprise I guess.  Note this:  Beginning in Q2 2009, the fv of companies’ loan portfolios was a required quarterly disclosure.  Previously, it was only an annual disclosure. Review some banks.  You might find a huge discrepancy in the fraction .. fv/carrying value.  Certainly banks have [...] Read more > >

Take a Break — and See How Lawyers View Accounting

We were going to have a Round Table discussion this coming week, but Labor Day has messed things up a little.  So instead, click on this link to see how lawyers view accounting, courtesy of the excellent law-professor blog The Volokh Conspiracy.  Lesson 1 is:  most of them know surprisingly little, even if they are [...] Read more > >

History Lesson

This is a guest post by accounting historian Steve Zeff.  The title is mine, though.  This article by Steve is recommended for those who want their history lesson extended– RJB There has been some discussion of “matching” and the income statement v. balance sheet approaches. Jeff Wilks wrote, “I’d just love to see someone explain [...] Read more > >

Teaching SCF and need a nugget on cash equivalents – see attached. Read more > >

Quite the humorous nugget here…

Ever teach the statement of cash flows–indirect method?  Have you had that class going along with you, they are really getting it … … and then it just becomes overload on the adjustments and you lose them??  Check out this link. It is hilarious. Michael Granof here at UT shared this with me this a.m.  [...] Read more > >

Well, not really a blog but a question

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 > >