Accounting & Financial Analysis News by GLG Council Members

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Upcoming Changes in Bank Ownership and Possible Effects on Accounting Statements

February 27, 2009

Analysis of:Government Offers Details of Bank Stress Test | www.nytimes.com

The Obama administration is proposing major changes in the manner in which banks are financed. The proposals would probably end up with the Government getting a major controlling interest in several financial institutions. Add to that the fact that several banks are declaring losses and you could expect major changes in the way in which the banks present financial information. In this analysis I look at some of these effects.

Shock Tactics for Risk Takers - Abacus Consulting, financial services

February 9, 2009

Analysis by: GLG Expert Contributor

Analysis of:US Plans to Curb Executive Pay for Bailout Recipients | www.nytimes.com

 It will only be by such shock tactics that the pain might be remembered for generations to come to try to prevent them from acting with such irrational exuberance in the future.  Where are all these disgruntled executives going to go?  Who is going to pay these numbers?  No shareholders are going to sit by and witness golden handshakes and 'hello' bonuses any more.  Reality has to come to these people too!   The old chestnut that we need to pay these exorbitant salaries and bonuses to attract the talent just doesn't wash any more.  This so-called 'talent' has literally brought most of the world's leading economies to their  knees. 

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Bailout Scenario, Executive Pay and Declining Productivity

February 6, 2009

Analysis of:US Plans to Curb Executive Pay for Bailout Recipients | www.nytimes.com

We are today in a situation where socialist practices are making their way into capitalist economies. The restriction on executive pay is only one such instance. The players in the market themselves are to blame for this situation which is not very healthy for capital development and economic growth. All this is coming in the context of the TARP and TARP2 (yet to be finalized) programmes. In this analysis I take a look at how this will impact productivity and have adverse effects on financial management and the growth of capital markets and growth.

DROP IN FORECLOSURES WILL SIGNAL MARKET’S BOTTOM

January 26, 2009

Analysis by: GLG Expert Contributor

Analysis of:Stimulus Package Unveiled | online.wsj.com

A slowdown in foreclosures will signal a market bottom. Fannie Mae and Freddie Mac can slow foreclosures. Pouring more capital into banks won't work.

2009 Trends for Small Business Finance

January 15, 2009

Analysis by: GLG Expert Contributor

Analysis of:Top 5 Trends for Small Business Finance in 2009 | smallbiztrends.com

1. The amount of capital provided to small and start-up companies will continue to shrink 2. Investors in start-up companies will continue to face a poor market for exiting from their investments 3.  Methods for internally financing companies will grow in popularity 4. Government officials won’t pay much attention to entrepreneurial finance 5. Attitudes toward financing start-ups and small businesses will change During 2009, a new realism about entrepreneurial finance will continue to emerge. 

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Satyam Fiasco - Accounting Fraud - Audit Quality - A Look at Some Issues

January 12, 2009

Analysis of:Govt. announces supersession of Satyam Board - to appoint 10 new directors | economictimes.indiatimes.com

The Satyam fracas is one more fraud in the long history of misappropriation of resources given in trust to individuals and institutions. This particular episode is drawing heated debates in India - especially on television and print news. What this entire episode however brings to me is the following - (a) any control system is only as good as the people administering it. (b) audits are not a replacement for responsible management (c) Laws and regulations cannot deter persons who wish to defeat them - atleast temporarily. What is required is that companies are administered ethically and in accordance with rules of conscience. In this analysis I look at the entire episode from the viewpoint of audit quality and administration of  accounting standards.

What happened at Satyam and its impact

January 12, 2009

Analysis by: GLG Expert Contributor

Analysis of:Govt. announces supersession of Satyam Board - to appoint 10 new directors | economictimes.indiatimes.com

The professionals have shown their unwillinglness to say ' NO ' when they should have said ' NO '.  This means that they have not shown assertiveness. Generallyl, the persons who are experts in their fields do not succomb to the pressure to something which is totally wrong in principle. In the case of Satyam, Chief Financial Officer and the Auditors have failed to show integrity towards their profession. They have failed to show assertiveness. The problem has not taken place overnight. What happened now is the result of something brewing for several years in the past. This is based on the newspaper reports available so far upto 12/01/09.

Most investors want to believe 2008 was only a bad dream, is it over?

January 5, 2009

Analysis by: GLG Expert Contributor

Analysis of:Do you think the Market made the bottom/ | www.carrmiller.com

The Dow Industrials ended the year down 33.8%, the S&P 500 was off 38.5% and the NASDAQ Composite was lower by 40.9%.  Other indexes fared no better, the Value Line was down 37.4%, and the Russell 2000 was off 34.8%. Take a look at the Dow Transports, lower by 22.6% and the assumed so safe Utilities average with its ever present dividend yield was down 30.4%. Commodities once thought to be the safe haven against the dollar proved no better. The DJAIG Commodity index was down 36.6%, the PHLX Housing Index is off 40%, silver was down 23% and gold, the one asset that had the greatest hype had a slight gain of 5.7%. But wait gold and silver stocks-XAU-was down 28.5%. Has the bottom been achieved, is the market to go higher in 2009 or are we in for more of the same?

A Primer on Business Valuation

December 11, 2008

Analysis by: GLG Expert Contributor

Analysis of:A Primer on Business Valuation | expertwitness.lawinfo.com

Valuing a business is a very important job that often has huge consequences yet is often misunderstood by many high-level professionals. This article discusses the basics of many valuation methodologies.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Accounting - Fair Value - The Bailout Package - Why Standards Will Stay and Improve

December 10, 2008

Analysis of:Cox : Accounting is Not a Fiscal Policy Tool | www.cfo.com

The comments of Chairman Cox are very heartening and are the culmination of a long and active drive by Accountants to diverse Accounting from politics, fiscal policy and taxation. While accounting is subject to several assumptions, the role of standards is all pervasive. The indicator that fair value plays a critical role along with valid guidelines for impairment of assets is bound to play an important role in the ongoing economic events. In this analysis I look at how fair value, the bail out package and accounting standards are all interlinked.

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