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…
Given my public record of opposition to IFRS adoption, you might be surprised to know that I have taught courses on IFRS for over ten years, beginning in Switzerland and the UK. If anybody is interested, I will be presenting a…
It came as no surprise that SEC Chief Accountant James Kroeker's first public foray, since Mary Schapiro deigned to remove "Acting" from his title, was to announce that the IFRS Roadmap has once again become a priority at the SEC.…
I have already reported stumbling upon a fascinating interview of Clarence Sampson, SEC Chief Accountant for more than a decade starting in the mid-1970s. Of his many tales of peculiar interactions with special interests, this one struck me right in…
The FASB has belatedly, and only half-way closed the proverbial barn door on misleading pension accounting in FAS 158. In re-measuring pension assets and liabilities on the balance sheet, Paragraph 16a of SFAS 158 requires that the effect on equity…