Peeling away financial reporting issues one layer at a time

Category for Financial Statement Presentation

Non-Voting Shares are in Vogue: Do (Lousy) Accounting Rules Play a Part?

I’m starting a company and I want you to invest.  I will put up $100 of my money for $10 million of yours.  I will own 100 shares of voting stock, and you will [Read More...]

Revenue by (Logical) Deduction

It seems there is always good reason to write a post about revenue recognition.  I can even envisage an entire blog on  the FASB’s new standard (ASC 606). It could go on for years without [Read More...]

The EBITDA Epidemic Takes Its Cue from Standard Setters

On October 4th, Jon Weil published “An Accounting Lesson for Twitter.”  Here’s how it starts:

Whether he prevails at his insider-trading trial or winds up paying a fine to the Securities and Exchange Commission, [Read More...]

Merrily We Roll Along — Forward and Up

It took seven years for the FASB and IASB to publish its "preliminary views" exposure draft (ED) on the fundamental issues addressed by the Boards' joint financial statement presentation project. And just [Read More...]

Financial Statement Presentation: Will Issuers or Investors Prevail?

The comment period has ended on the IASB and FASB's joint discussion paper (DP), Preliminary Views on Financial Statement Presentation, and it looks like there's going to be a rumble between investor [Read More...]

Making Financial Statement Presentation Simple: Mandate Account Reconciliations

Following my most recent post on financial statement presentation, Eddie Thomas, a frequent commenter of this blog, wrote: "Wouldn't investors be better off pushing for a more robust XBRL so that they can [Read More...]

Financial Statement Presentation: The Sequel

Two readers, including Robert Bloomfield, Cornell accounting professor (my alma mater!) and Director of the Financial Accounting Standards Research Initiative (FASRI) of the FASB, were kind enough to point out an error in my [Read More...]

The “Preliminary Views” on Financial Statement Presentation: Seven Years of Deliberation for This?

This past October, the FASB and IASB issued a joint discussion paper with their preliminary views on financial statement presentation:

"[The IASB and FASB initiated the joint project on financial statement [Read More...]