(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, the Mea Culpa Over the year…
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 reason to explain why the U.S.…
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 coincidence, I recently had an inquiry from…
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 and most painful of them all: the…
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 is my habit, let's begin with…
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. The political appointees of the Commission, in…
It seems that business practice tends toward greater exploitation of opportunities for collaboration over time. On a personal note, it has been said that people don't choose to become professors because they are smart, but because they couldn't play nicely…
Every three months, the SEC Regulations Committee of the AICPA takes SEC staff members to lunch, and discuss emerging issues relating to SEC financial reporting rules and regulations. Sometimes the SEC will use the Regs Committee as a conduit to…