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Latest News on my Book

An Honest Financial Accounting: First Preliminary Edition

Dear reader: With this first post to The Accounting Onion in almost four(!) years, I am establishing a portal for commenting on my book project, of An Honest Financial Accounting: The Myth, and Making it a Reality.  By publishing a…

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Financial Accounting versus Financial Reporting – Part 1

An Honest Financial Accounting: Draft of Chapter 1 – Part I Chapter Title: Financial Accounting versus Financial Reporting Draft Table of Contents In this chapter we consider where – within the broader activity of “financial reporting” –“financial accounting” should begin and end. “Accounting” A popular way to begin discussing the…

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Financial Accounting versus Financial Reporting – Part 2

An Honest Financial Accounting: Draft of Chapter 1 – Part II Chapter Title: Financial Accounting versus Financial Reporting Draft Table of Contents “Financial” Accounting In the Securities Exchange Act of 1934, Congress gave the new Securities and Exchange Commission broad powers to regulate the disclosures of public companies, including the…

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An Economic Basis for Honest Financial Accounting

An Honest Financial Accounting: Draft of Introduction to Preliminary Edition – Part II Draft Table of Contents It so happens that around the time Beaver published his recommendations for the FASB, Harvard philosophy professor John Rawls took on the larger question – in which financial accounting surely plays a part…

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A Thumbnail History of Financial Accounting’s Descent into Madness

Draft Table of Contents An Honest Financial Accounting: Draft of Introduction to Preliminary Edition - Part I Every report by independent auditors on the financial statements of US public companies must state that, in their opinion, said financial statements are “fairly presented” in accordance with “accounting principles generally accepted in…

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