skip to Main Content
tom.selling@accountingonion.com

FASB Decrees that 2 + 2 < 4

On the one hand, I am happy to report that we are approaching the end of the darkest era in the history of U.S. accounting standards, during which the Accounting Establishment did their best to convince the rest of us…

Read more

An Accounting Parable for Our Time

As told to me by a faculty member at Ohio State, who heard it in a presentation by Eugene Flegm, former general auditor for General Motors: Some years after the end of World War II, GM was negotiating a new…

Read more

The SEC’s “90% Convergence” Fantasy

"…[W]e know there are going to be challenging issues to resolve under any [IFRS] incorporation decision. The issues of LIFO and contingencies immediately come to mind. But even with all of this, I would offer up one final thought for…

Read more
Back To Top