Peeling away financial reporting issues one layer at a time

Category for Presentation

Was Donald Trump Complicit in a Securities Fraud?

What do the race for U.S. President and financial reporting have in common?

Non-GAAP performance measures!

It’s looks like a stretch, I know, but stay with me. If you will give me a moment to tell you about [Read More...]

Proposed ASU EITF 2015-15B: Lipstick for a Pig of a Revenue Presentation Standard

The FASB has issued Proposed Accounting Standards Update EITF 2015-15B, Recognition of Breakage for Certain Prepaid Stored-Value Cards.  If finalized, it would change the way that retail merchants who sell gift cards for [Read More...]

ASU 2015-03: The Latest Simplification to GAAP That’s Not

Relative to the big changes that are supposed to be coming from the FASB (leases, revenue recognition, loan impairment), ASU No. 2015-03 on debt issuance costs is very small potatoes.  But, if you are [Read More...]

Gross versus Net Presentation: The First of Many Revenue Recognition Debacles to Come?

Pick any class of upper-level accounting students, and give them a few cases of supplier/customer relationships for which “gross versus net presentation” of revenues is an issue, and I’ll wager that the class will come [Read More...]

On Golden’s Con — and Bain Capital’s Travels to Lilliput

There is so much I would like to write about, yet so little time…

I could write about the latest half measure on the accounting for repurchase agreements (ASU 2014-11)— and that Tom Linsmeier’s [Read More...]

Accounting Convergence Dysfunction: The Case of the Liability/Equity Project

A recurring theme of my blogging is that financial accounting standards could (and should) be much simpler, and also much better if they were simpler. I have also placed some of the blame for [Read More...]