Peeling away financial reporting issues one layer at a time

» Disclosures

A Promised SEC Disclosure Roundtable that Won’t Happen

(Note to readers — I have deleted the reference to Worldcom in a previous version of this post. A dialogue with one reader caused me to re-consider my statement that account roll forwards could [Read More...]

Disclosure Framework Dysfunction

It recently occurred to me that the ongoing Disclosure Framework project and the comatose Financial Statement Presentation project have three things in common:

Neither current disclosure nor presentation standards promote high quality financial reporting (perhaps [Read More...]

Could a Simple Spreadsheet Error Turn into Wall Street’s Watergate?

A couple of posts ago, I waded in on the infamous Reinhard & Rogoff spreadsheet error, in an attempt to extract lessons of a cautionary nature for accountants of public companies.

Since then, two interesting [Read More...]

Autonomy: Investors are Entitled to Know what HP’s Management Knows — by New Year’s Eve

Hewlett Packard Co. claims they were 'misled' (to put it mildly) by accounting 'misstatements' (to put it mildly) into overpaying, on the order of $8 billion, to acquire Autonomy. But, if anybody outside [Read More...]