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by leon on January 01, 2009
The Securities and Exchange Commission has given the banking a much deserved kick in the guts by releasing a 211 page report that fends off the banks' claim that fair value created the financial...
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by leon on December 09, 2008
The Public Company Accounting Oversight Board has put auditors on notice. in the wake of the economic meltdown, they need to exercise extreme scepticism.The PCAOB has put out a report telling...
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by leon on November 24, 2008
I always talk about how accountants are recession-proof. The last blog entry I did on it looked at how they are enjoying above-average salary increases, despite the downturn.Now a new survey, reported...
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by leon on November 18, 2008
Accounting hasn't been this political since the time Andersen was sent down the chute.The G20 now wants the International Accounting Standards Board to promote financial stability, reports...
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by leon on November 17, 2008
Earlier this month, I did a blog entry looking at how accounting regulators were bending over backwards to protect banks. By throwing them a lifeline, they have completely ignored the interests of...
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by leon on November 14, 2008
Last week, I did a blog entry on how Deutsche Bank had exploited the weak-kneed approach of the International Accounting Standards Board and European Commission allowing banks to reclassify assets,...
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by leon on November 06, 2008
Yesterday, I did a blog entry looking at regulators had changed accounting rule to look after the banks and how Deutsche Bank had used that to disguise a loss as a profit.Now, CFO.com reports that...
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by leon on November 05, 2008
First there were the bank bailouts, now they're changing the accounting rules. Relaxing the rules on how banks value their assets might help them look better in this financial crisis, but it...
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by leon on October 30, 2008
Several weeks ago, I did a blog entry looking at American International Group's appalling accounting. There are serious questions about how this company claimed to be solvent when it was stopping...
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by leon on October 29, 2008
The fight over fair value continues with a Securities and Exchange Commission roundtable set to look at the fair value, or mark-to-market issue. As CNN suggests, we can expect to see some fireworks....
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by leon on October 14, 2008
The Financial Accounting Standards Board is under attack for giving companies guidance on valuing assets in inactive markets, without changing the fair value rule.The FASB has sought to clarify the...
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by leon on October 14, 2008
In the downturn, companies are going to need to adjust their key performance indicators very quickly.In a boom market, the KPIs need to be build around getting the products and services out as...
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by leon on October 13, 2008
The churn rate for chief financial officers is continuing at the same level as last year, reports CFO.com.That is somewhat surprising but it will be interesting to see how it pans out in the economic...
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by leon on October 08, 2008
Alarming stuff coming out with the House of Representative's Committee on Oversight and Government Reform probe into the debacle that is American International Group. A good summary from...
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by leon on September 29, 2008
Earlier this month, I did a blog entry looking at how the Big Four are planning to axe staff. Times are tough.Well, maybe not that tough. Not for accountants anyway with the latest CCH Public...
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by leon on September 11, 2008
The big accounting firms are planning to chop staff because of the slowdown in the economy, and more companies adjusting to the rigors and processes of Sarbanes-Oxley, reports Compliance...
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by leon on September 06, 2008
Life for chief financial officers is getting tougher with a new study, to be released next month, showing that roughly half of the CFOs at Fortune 500 and S&P 500 companies stay in their posts...
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by leon on September 03, 2008
I keep raising the question whether accountants are recession-proof.Now we have further evidence of that with the latest Hewitt study showing that the bean counters are going to get the biggest above...
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by leon on August 28, 2008
Finally, the US has moved another step closer to joining the rest of the world with the Securities and Exchange Commission releasing a road map that would have US companies using International...
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by leon on August 15, 2008
Big question marks hang over the latest proposals from the Financial Accounting Standards Board, reported here, requiring companies to account for the potential cost of ongoing litigation. As The...
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by leon on August 06, 2008
Earlier this year, I asked the question: are accountants recession-proof?As I pointed out at the time, accounting firms tend to run very lean and the fees just keep coming and heading north. No...
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by leon on August 04, 2008
You really have to question which side these accounting rule-makers are on. Certainly not on the side of investors.The Financial Accounting Standards Board has decided to delay proposed changes that...
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