Peeling away financial reporting issues one layer at a time

» Intercorporate investments

Compromising Accounting Principles: A History Lesson (and a Mea Culpa)

(I apologize to anyone who has read an earlier version of this post. Due to a problem with my blogging software, it was not sent out to subscribers. Therefore, I am re-posting it.)

First, [Read More...]

The Revisions to IFRS 3: Bad Enough to Abandon Faith in IFRS?

In my previous post, I described how an SEC honcho, while speaking to the choir at an event sponsored by FEI, espoused his version of faith-based accounting; though he could not provide a single, solid [Read More...]

FAS 52: Another Goodwill Charade, and IFRS Convergence To Boot

In a recent post, I argued that goodwill arising from a business combination was just a random number; therefore, any attempt to measure impairment amounted to nothing more than a costly charade.  By [Read More...]

What Good Comes from Goodwill Accounting?

In an earlier post, I described how SFAS 141R resulted in some incremental improvements to the accounting for business combinations.  However, warts remain, and the purposes of this post is describe the ugliest [Read More...]

Peeling the Onion on the New Business Combination Standards: FAS 141R and FAS 160

This post examines the onion skin, if you will, of the new business combination standards. I'm going to explain the differences between the so-called 'purchase' method of accounting and the new 'acquisition' method. As [Read More...]

If You Think GAAP is Opague, Try SEC Staff Interpretations!

Would you like your staff to learn more aboutSEC reporting?  Click here for a sample in-house training agenda!

The securities laws give the SEC broad power to create regulations to implement the pertinent statutes.  [Read More...]

EITF 07-1: Can a Good Accounting Rule Drive Out a Bad One?

It seems that business practice tends toward greater exploitation of opportunities for collaboration over time.  On a personal note, it has been said that [Read More...]

APB 18: SEC Disclosures Paper Over Decades-Old Bad Accounting

Every three months, the SEC Regulations Committee  of the AICPA takes SEC staff members to lunch, and discuss emerging [Read More...]