FASB Decrees that 2 + 2 < 4
On the one hand, I am happy to report that we are approaching the end of the darkest era in the history of U.S. accounting standards, during which the Accounting Establishment did their best to convince the rest of us…
“Anything But Market” is the FASB’s Mantra for Loan Loss Accounting
At its August 22nd meeting, the FASB came to some significant tentative conclusions regarding the recognition and measurement of loans: "The Board decided that the model [of loan loss measurement] should utilize a measurement objective of "expected credit losses" and…