What did people say about the proposed revenue recognition model?

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 > >

Kachelmeier Gets Record Audience, Posts Archive, Shows IBM and Northrup Grumman a Thing or Two

We had a record audience for today’s talk with Steve Kachelmeier:  almost 50 people on the web and 30 people in Second Life.  And no one had to get stuck in an airport.  If you missed it, just go to our LIVE page and follow the instructions to see his talk ‘on demand’. In other [...] Read more > >

Innovations in Editing

As indicated below, Steve Kachelmeier, Senior Editor of The Accounting Review, will be joining us for a Round Table discussion on Wednesday, August 19th at 11am ET. For preparation, I would strongly recommend that you take a look at this fascinating (and very easy-reading) essay by former editor of the American Economic Review, Preston McAffee, [...] Read more > >

Why Matching Is Out of Vogue

So far, no one has responded to my questions about the importance of contracts for revenue recognition. So, let me venture to ask a few more questions that occurred to me while reading the FASC’s comment letter on the revenue recognition discussion paper. In their response to Q9, the authors state: The traditional “income statement” [...] Read more > >

Round Table Discussion with Steve Kachelmeier

Steve Kachelemeier, Senior Editor of The Accounting Review, will join us on Wednesday, August 19th, at 11am ET.  As usual, Steve will take a few minutes to make his opening points, and then we will turn to Q&A.  Please come prepared with questions, and feel free to suggest some in the comment thread below. To [...] Read more > >

Why Do Standard Setters Make Such Awful Decisions?

Everyone, it seems, likes to complain about the decisions of the FASB and IASB.  Some complain that the Boards are too beholden to the wishes of preparers, by allowing them to park debt off their balance sheets, hide volatile income numbers in the Statement of Changes in Shareholder’s Equity (rather than running through earnings), and [...] Read more > >

AAA FASC Weighs in on Revenue Recognition

The AAA Financial Accounting Standards Committee (FASC) recently submitted a comment letter in response to the FASB/IASB’s discussion paper on revenue recognition. This letter is unusual because it is one of few (if any others) that draw on existing academic research to support its arguments. In that regard, the FASC has provided a useful service [...] Read more > >

Putting The Final Touches on Your AAA Presentation?

I am not sure faculty ever face a more challenging environment for presenting a paper than the AAA concurrent sessions.  You have 15 or 20 minutes to convey months or years of technical work to a diverse audience — some of them know more about the topic than you do, while others need to be [...] Read more > >

What Went Wrong With Economics (according to The Economist)

A short article from the Economist serves as an introduction to two other articles.  The intro has a long comment section.  It’s definitely worth a look.  A sample: The charge that most economists failed to see the crisis coming also has merit. To be sure, some warned of trouble. The likes of Robert Shiller of [...] Read more > >

Some Comments On Contribution

Since June 1, 2008, I’ve had the honor and privilege of serving as an editor of The Accounting Review. In this role, I get to see a lot of papers in the financial-archival area, although there are four other editors plus senior editor Steve Kachelmeier also looking at papers in this area, so I don’t [...] Read more > >