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Can the Devil in the Details of GAAP be Exorcised?

Rule complexity is not solely the province of accounting in the world of business.  Just trying to list the others--taxes, securities, labor, environmental, trade, etc.--boggles my mind.  But, I do know that accounting rules can, and should, be a lot…

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IAS 23 and FAS 34: Political Interests Trump Accounting for Interest

In Finance 101 it is taught that the decision to acquire assets involves two steps.  First, you figure out which assets you want to acquire (capital budgeting), and second, you figure out how to pay for them (capital structure).  If…

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