This is my third post for today. About 20 years ago (it’s been that long already!), I had a fairly regular gig traveling to Europe and Dubai to make presentations about SEC disclosure requirements that applied to foreign private issuers,…
As I stated in my post on ASU 2015-03, the accounting for debt issue costs is relatively small potatoes. The point was to illustrate that the FASB’s so-called “simplification initiative” was driven by politics, and that actual simplification might, or…
Comments on the PCAOB's Staff Consultation Paper (SCP), The Auditor’s Use of the Work of Specialists, are due July 31st. This post consists of a draft of my comment letter, and I invite you all to make suggestions before I submit…
The following message is from Jennifer Stevens, professor in the Department of Accountancy at the University of Notre Dame. Fellow accountants - we need your help. How much did an entry-level accountant make in 1960 as compared to today? Everyone…
Last week, the PCAOB convened its Standing Advisory Group to discuss the topic of auditing accounting estimates and fair values. I was invited to be on a panel providing investors' perspectives.* This post mainly consists of an unofficial transcript (with…
For many of the financial reporting questions of the day, the right way forward is self-evident and direct. "Build it and they will come," I say. But far too often, policy makers allow themselves to be bogged down by executive-class…
Rob Nance of iShade, the online accounting network, recently interviewed me for his own blog. With Rob's permission, I'm repeating (with some minor edits to my responses) his post, below. * * * * * Ever read The Accounting Onion?…
The author of this post is Annie Schedrin of the London-based organization Accounting for International Development (AfID). It seems like they do good work where it is much needed. I am always hopeful that educators will share my posts with…
I'm honored to have been selected to give the keynote speech at the American Accounting Association's Northeast Region Meeting. I'm on right after breakfast on Friday, October 28th. As you might have guessed, the topic I have been asked to…
In previous blog posts long ago (like here and here), I expressed the hope that XBRL will fundamentally transform financial reporting and financial statement analysis. For example, it's one thing to argue that mandating roll forwards of all balance sheet…