My blog 'readership' (shame on me for using such a stuffy term!) primarily consists of preparers, auditors and journalists. But, for those intrepid analysts who actually do read my blog, this week I have something especially for you! I humbly…
One thing that everyone should be able to agree on is that the accounting rules for measuring and reporting revenue ("revenue recognition") are a huge mess. There are too many of them, and far too many inconsistencies amongst them. One…
I'm a night owl, but once I hit the sack, I'm out like a light for 8-9 hours. In fact, the two things I would say that I do best are type fast and sleep like a log. One recent…
In my first post with results of our IFRS opinion survey, I focused on three questions that indicated respondents' overall attitude towards IFRS adoption without getting too deep into the specifics. In this second and final post, I am going…
I apologize for the long interval between this and my last posting – especially to those of you who have privately thanked me for material just boring enough, and long enough, to induce a good night's sleep. Tax blogs, I…
This is the first of a series to discuss the results of our IFRS opinion survey. The idea for a survey originated with yours truly, and I was moved to do so (more like propellled with outrage) by the ersatz pro-IFRS "research"…
Haven't Taken Our IFRS Opinion Survey?We Need Your Input!! Click here to answer 12 brief questions. My previous post lambasted the FASB for shilling the SEC's whacky proposal to measure the year-end value of oil and gas reserves at average prices for…
Before I discuss the sordid details of a recent FASB proposal, please take a moment to read this hypothetical: What if the FASB were to issue a proposal to require companies holding marketable equity securities of oil companies to calculate and report…
This is a brief announcement of an online IFRS survey that I have prepared with Pat Walters of Fordham University. I invited Pat to collaborate with me because we have divergent views on the questions being asked. Thus, I hope that…
Section 404(a) of the Sarbanes-Oxley Act, together with SEC rules implementing the provisions of the Act, require management to assess and report on the effectiveness of internal control over financial reporting (ICFR). It took a few years for the SEC…