Peeling away financial reporting issues one layer at a time

Category for R&D

Failed Convergence of R&D Accounting: Only Politicians and Opportunists Would Have Downplayed the Implications

Unlike BP, which eventually came to admit the actual rate at which oil has been spurting into the Louisiana Gulf, the FASB and IASB continually resist any acknowledgement that the gulf between the two financial reporting [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...]

EITF 07-03: Which Part of ‘Nonrefundable’ Doesn’t EITF Understand?

EITF Consensus 07-03, Accounting for Nonrefundable Advance Payments for Goods or Services to Be Used in Future Research and Development Activities, is very straightforward and basic; so much so that it might require [Read More...]