More on Jim Leisenring’s session

I was thinking about Jim’s comments about research helping standard setters.  A long time ago there was some debate on the ability of archival researchers to do ex ante research … some back and forth on that point.  I’m not an archival person so I don’t think about whether they can do ex ante or not, and [...] Read more > >

So You Want a PhD in Accounting?

I spent a good part of the weekend reading PhD files.  It seems like a fairly strong year, perhaps because the economy has closed out other opportunities.  (Many applicants hail from Wall Street).  I’d love to hear your impressions of any application pools you have seen.  But if you are one of the students who [...] Read more > >

A Plug for Panels at Next Week's FARS Meeting

On Saturday January 23, I will be moderating a panel discussion entitled, “Practice-Relevant Researchable Accounting Issues: Practitioners’ Views.”  The panelists are John Hepp, Partner with Grant Thornton, Bob Laux, Senior Director of Financial Accounting and Reporting at Microsoft Corporation, and Scott Taub, managing director of Financial Reporting Advisors and former Deputy Chief Accountant of the [...] Read more > >

A Plug for Panels at Next Week’s FARS Meeting

On Saturday January 23, I will be moderating a panel discussion entitled, “Practice-Relevant Researchable Accounting Issues: Practitioners’ Views.”  The panelists are John Hepp, Partner with Grant Thornton, Bob Laux, Senior Director of Financial Accounting and Reporting at Microsoft Corporation, and Scott Taub, managing director of Financial Reporting Advisors and former Deputy Chief Accountant of the [...] Read more > >

Articles on the interaction between research and standard setting

Jim Leisenring’s remarks at yesterday’s roundtable were great.  In the portion related to the interaction of research and standard setting, he reminded us of two papers in Accounting Horizons on the interaction: “Academic accounting research and the standard setting process” by Katherine Schipper and “Accounting research: On the relevance of research to practice” by Jim [...] Read more > >

Politicization of Accounting Standards

Prof. David Albrecht has an extended post on The Summa arguing for the politicization of accounting standards: It is the responsibility of a country’s government to adjudicate between competing economic interests in the selection of accounting standards. This is what government does.  For example, governments are good at levying and collecting taxes, which has been [...] Read more > >

Useful insights from Jim Leisenring's Roundtable discussion today

Jeremy summarized nicely some of the discussion points that Jim raised during his discussion with Jeffrey Hales.  I won’t repeat his summary.  However, I found Jim’s comments to be particularly insightful today.  I came away with some very good clarification of a few issues. Here’s one that I found particularly interesting: Regarding his objection to [...] Read more > >

Useful insights from Jim Leisenring’s Roundtable discussion today

Jeremy summarized nicely some of the discussion points that Jim raised during his discussion with Jeffrey Hales.  I won’t repeat his summary.  However, I found Jim’s comments to be particularly insightful today.  I came away with some very good clarification of a few issues. Here’s one that I found particularly interesting: Regarding his objection to [...] Read more > >

Revenue Recognition, Red Flags and The Mission of the FASB

Tom Selling has a few interesting posts on The Accounting Onion.  First, he takes a careful look at troublesome Revenue Recognition practices at Apollo Group, the parent company of University of Phoenix.  He also provides a broader list of red flags that analysts should add to their repertoire.  These are useful posts for academics, with [...] Read more > >

Teaching DIT's this term? Did you know??

From a Credit Suisse First Boston report From a Credit Suisse First Boston report By David Zion, Amit Varshney, and Christopher Cornett Spinning Losses into Gold November 12, 2009 Last Friday President Obama signed into law the Worker, Homeownership and Business Assistance Act of 2009, which among other things contains an amendment that would temporarily [...] Read more > >

Teaching DIT’s this term? Did you know??

From a Credit Suisse First Boston report From a Credit Suisse First Boston report By David Zion, Amit Varshney, and Christopher Cornett Spinning Losses into Gold November 12, 2009 Last Friday President Obama signed into law the Worker, Homeownership and Business Assistance Act of 2009, which among other things contains an amendment that would temporarily [...] Read more > >

Professional judgment in financial reporting

In my technical accounting research class and in recent consulting work, I often have been reminded of the need for reasoned judgment in our profession. With the general move toward more objectives-based standards (using the SEC parlance), the need for professional judgment only will increase.  Recognizing the need to teach and understand what professional judgment [...] Read more > >

Leisenring: IFRS 9 Abuse "Inevitable"

Somehow I ended up on the mailing list of Risk.Net, which hails itself as “The world’s leading monthly magazine dedicated to the risk management and derivatives industries.”  In this week’s top story, headlined “Abuse of revised IFRS standards “inevitable” – IASB’s Leisenring“, Jim is quoted as expressing concern about using management intent to determine how [...] Read more > >

Leisenring: IFRS 9 Abuse “Inevitable”

Somehow I ended up on the mailing list of Risk.Net, which hails itself as “The world’s leading monthly magazine dedicated to the risk management and derivatives industries.”  In this week’s top story, headlined “Abuse of revised IFRS standards “inevitable” – IASB’s Leisenring“, Jim is quoted as expressing concern about using management intent to determine how [...] Read more > >

Welcome to Our New Editorial Assistant

I just got off the phone (Skype, actually) with our new editorial assistant, Jeremy Bentley.  Jeremy is in BYU’s PhD-prep program, which has generated a number of successful accounting researchers.  Jeremy will be doing a little work behind the scenes, but his primary duty will be more visible:  to keep our blog on top of [...] Read more > >

Round Table Discussion: Jim Leisenring, IASB Board Member

On Tuesday, Jan 12th, 4 pm ET, we will be joined by Jim Leisenring. Jim is currently a member of the IASB, where he has been serving since 2001. Given his prior role as a director and later a board member at the FASB, Jim arguably has more standard setting experience than just about any [...] Read more > >

Happy New Year (in Principle)

I hope everyone is refreshed and ready for the new year — and a challenging one it will be for standard setters, with the convergence deadlines rapidly approaching.  To get you started, here are some thoughts on Principles vs. Rules, from Paul Miller and Paul Bahnson, academics who have a regular column (The Spirit of [...] Read more > >

Holiday Reading from FEI

It isn’t too surprising that the FASRI blog has been quiet, and it surely will be for another week or so.  There will be some interesting changes and improvements to the site when you return from vacation (I’ll keep you in suspense for now). But if you need your fix of accounting information and commentary, [...] Read more > >

Common sense and no right answers

In one of our discussion groups at the FASB’s Financial Reporting Issues Conference, we had a lengthy discussion about whether a lease represented the promise to transfer a bundle of rights (which could be satisfied at contract signing) or the promise to allow someone to use an asset for a fixed period of time (which [...] Read more > >

"Must Reads" in the Earnings Management Literature

We had a great Round Table with Paul Zarowin yesterday, where we talked about the large and ever-growing literature on earnings management.  While much has been done in this area, it was clear from yesterday’s discussion that there remain many fruitful areas for future research.  If you didn’t get the chance to join us, I [...] Read more > >