Contributing Member of the Financial & Business Services Councils

Names and details of certain GLG News authors are available only to GLG Clients and Council Members. GLG News authors are subject-matter experts within the GLG Councils and are available for expert consulting - by phone, in-person, or written analysis. To find out how to become a GLG client or Council Member, click here.

GLG News by this Author

Analyses are solely the work of the authors and have not been edited or endorsed by GLG.

Virtual stealing or hold ups? same end result.

November 15, 2009

Analysis of:Banking Trojan steals money from under your nose | news.cnet.com

Is there a difference between virtual stealing of money or actual hold up? The end result is the same: stealing money from the bank. Similar classical measures of protection and provisions can be applied by banks to preserve depositors' funds in accordance with IAS. As for customers' being ripped off or scammed, the end result is also the same. Proper education on using virtual banks' site to transfer money should be encouraged by banks to build up customers' trust.

Less Costly GAAP for Globally Accepted Accounting Principals ?

May 16, 2008

Analysis of:The Beginning of the End of GAAP | www.cfo.com

As long as the F.A.S.B.'s blueprint could "identify the least disruptive, and least costly approach" to move U.S. public companies to IFRS, and this blueprint is generally accepted in the U.S. as accounting principals, the U.S. GAAP is applied. However, applying these standards by other countries and nations already requiring international accounting standards IAS would be a problem.

Fair Value of Financial Instruments are Embedded in their Prices.

April 24, 2008

Analysis of:Bankers: Fair Value Is Like Throwing Gasoline on a Fire | www.cfo.com

Short term Financial Instrument ( For trading purposes ) are bought in the Financial secondary market to be traded within a short term period normally less than one year, and could carry a maturity period of more than one year. The purchase (or Sale) of such an instrument in the secondary market is normally for liquidity purposes, and the proceeds are posted directly to the income statement. Medium or long term Instruments ( Held till Maturity), are bought or sold in the Primary or Secondary markets at premium or discount rates reflecting the fair value in the market on date of purchase or sale. the Historical cost is reflected in the books just like acquiring a non-financial Fixed Asset. The revaluation of the H.T.M. Security yearly by comparing yields and currency values to newly issued instruments is the most appropriate method for revaluation wherever regulators allow it ( Code Regulated Countries), or International Accounting Standards are applied.

Page : 11 to 3 of 3

Request a News Analysis

Subscribe to Updates

By RSS