I made a conscious decision to eschew formulas in my recent post on the difficulty the FASB has had in creating a standard that results in a reasonable classification of liabilities and equity. An exchange of emails with Accounting Onion…
I am happy to report that the FASB's recently issued Preliminary Views document entitled Financial Instruments with Characteristics of Equity fills me with cautious optimism that, at long last, the FASB may actually be able to create a principles-based accounting…
I have a weak spot in my heart for my former students--especially if they were also my tennis or cycling buddies. Chris, of the cycling variety, recently sent me this email message:...So, today I was reading some posts on the…
APB 14 was promulgated in 1969 when we were still pretty much in the dark ages with respect to the valuation of derivative financial instruments. The Opinion addressed two issues, one of them being the accounting for convertible debt. Since…