Economics Blogs Worth Reading

The Wall Street Journal has an interesting article about the top economics blogs. If you don’t read many blogs, you should definitely read the article and navigate along to the websites.  They even provide a listing of 30 recommended econ/finance blogs. That said, I would like to emphasize that the FASRI blog has a goal [...] Read more > >

Hot off the press

I received a David Zion, Amit Varshney, and Chris Cornett report earlier today (Credit Suisse). They say, among other things, that the FASB just held its first board meeting to discuss overhauling the accounting for financial instruments. They claim that although there’s still a long way to go, it looks like the FASB could be [...] Read more > >

FASB to Develop a Disclosure Framework

The FASB announced today the addition of a disclosure framework project to their agenda.  The addition of the project appears to be motivated by feedback the Board received the ITAC and CIFR committees. In today’s press release, Chairman Bob Herz said: Read more > >

Can you believe this?

Cathy Shakespeare sent me this link as we’re finishing off a paper (with Karen Nelson) on fair value. Some are jaw breakers. Good stuff. Read more > >

No Office Hours This Week: Transition Edition

We won’t have any office hours this week, because we are in the midst of two transitions.  First, Jeffrey Hales replaces Ray Pfeiffer as FASB Research Fellow, so they will both be tied up.  And I am working with Remedy Communications to make the transition to a version of office hours that will allow people [...] Read more > >

Persistent Myths (or Misunderstandings) in Accounting Measurement: Stumbling Blocks to Improved Standard Setting, Research, and Practice

As I mentioned during a recent session of office hours that I hosted, I believe there are a number of persistent myths in accounting that seem to get passed on from generation to generation.  I promised to share them on the blog, so here they are.  Read more > >

The FASC’s Comments on the SEC Roadmap

Last week, a revised version of “A Research Based Perspective on the SEC’s Proposed Rule on Roadmap for Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards (IFRS) by U.S. Issuers,” comments from the Financial Accounting Standards Committee of the American Accounting Association, appeared on SSRN.  In this post, I offer [...] Read more > >

Does Accounting Have Real Effects?

We often hear the argument that accounting policy shouldn’t matter since it doesn’t change the underlying economics of a transaction or event.  Preparers, however, often act as if the accounting does matter (think pensions, stock option expensing, other comprehensive income, just to name a few).  Here’s another example… Read more > >

A Rush to Bad Policy?

The current financial crisis is sure to bring about a wave of new laws and regulations.  These will have far-reaching and perhaps long-lasting effects on not only financial institutions, but on all firms as well as investors and other parties.  Some are already questioning whether any new regulations will be effective, and whether their benefits [...] Read more > >

Why there is a need for regulation of financial reporting?

The mission of FASRI is to facilitate the communication between researchers and standard-setters. Needless to say, one important way to judge the usefulness of accounting academic work is to see to what extent the research work can inform regulators of the policy implications. In a world that the regulation governing financial reporting and disclosure is [...] Read more > >