Accounting & Financial Analysis News by GLG Council Members

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Risk , Uncertainty and Earnings - The age old paradigms

August 13, 2008

Analysis of:Risk is hated universally | economictimes.indiatimes.com

Risk and uncertainty are two different paradigms. When analysts and decision makers do not measure risk properly then it becomes uncertainty. In this  analysis  I  take  a  look  at  the  effect  on  earnings  of  both  risk  and  uncertainty  and  how  they  effect  the  financial  statements.

Paul MillerProfessorREGENTS OF THE UNIVERSITY OF COLORADO

Is it bad reporting or does naivete reign at the highest levels?

August 7, 2008

Analysis of:Mulling the Fair Value, Historic Cost Choice | www.cfo.com

Maybe it's just me, but these quotes from Herz and Pozen are off-base. When they suggest there could be a pure historical cost system, they are talking about something that doesn't exist and hasn't existed in a 100 years, if even then. I have to believe that Herz was misquoted or misinterpreted; I can believe that Pozen would misunderstand. Nothing will come out of this. There will be no turning back to more costs. There will be a continuing progression toward fair value accounting for the simple reason that it produces the information that users want and that society needs them to have.undefined undefined

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Fair Value vs Historical Cost - A Look at some Aspects of the Debate

August 4, 2008

Analysis of:Mulling the Fair Value, Historic Cost Choice | www.cfo.com

The  debate  on  the  use  of  fair value  seems  to  get  more  complicated  with  each  passing  day. Also  the  use  of  fair  value  for  some  balance  sheet  items  and  for  historical  cost  for  other  items  simply  complicates  the  way  in  which  financial  information  is  presented.The  FASB has  now  prepared  a  report  which  recommends  that  fair value/historical  cost be  used  consistently  for  a  particular  business activity. In  my  opinion  this  only  complicates  the  issue  without  simplifying  anything  and  I  look  at  the  same  in  this  analysis.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Economic Recession, WTO, Fair Value and Accounting Restatements - The Coming Conundrums

July 21, 2008

Analysis of:Fed Chief Bleak on Economic Outlook | www.nytimes.com

The  global  economy  is  today caught  in  a  quagmire. The  WTO  talks  are  stumbling. Securities  markets  don't  know  which  way to  go. Each  day comes  with  a  new  piece  of  news  which  is  difficult  to  fit  in  the  jigsaw. Economic  recession  with  inflation  has  hit  several  parts  of  the  globe. The  problems  of  Fannie  Mae  and  Freddie Mac  are  the  latest  to  hit  the  headlines. In  this  analysis  I  take  a  look  at  how  these  events  are  reshaping  accounting  and  why  we  can expect  further  confusion  in  accounting  statements.

Excesses y Consequences

July 18, 2008

Analysis by: GLG Expert Contributor

Analysis of:Fed Chief Bleak on Economic Outlook | www.nytimes.com

Bring government spending under control, avoiding a steady collapse of the government's financial house. Impose stricter regulations and closer risk controls on financial institutions. Banking must return to a higher standard of ethical behaviour to ease crisis of confidence.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Banking Scenario - Subprime Accounting Issues - Basel II - Changing Regulatory Landscape

July 15, 2008

Analysis of:Fed Calls for Tighter Regulation of Banks | www.ft.com

The  Federal Reserve  wants  more  supervisory  and  control  powers  over  banks  while  saying  that  banks  should  be  allowed  to  fail. Basel  II guidelines  are  around  the  corner. It  is  a  moot  point  as  to  what  extent  these  will  add  to  the  stability  of  the  financial  system  till  the  banks  learn  to  first  manage  their  own  risk  portfolio. In  this  analysis  I  look  at  the  changing  regulatory  landscape  in  relation  to  evolving  accounting  issues and  where  we  could  possibly  be  heading.

The Weather Channel Auction Demonstrates Restraint by Potential Bidders

July 9, 2008

Analysis by: GLG Expert Contributor

Analysis of:NBC, Blackstone and Bain buy Weather Channel | www.ft.com

The Weather Channel sale by privately held Landmark Communications to NBCU and private equity affiliates of Blackstone Group and Bain Capital for a reported $3.5 billion demonstrates that potential bidders such as CBS (recent buyer of CNET for $1.8b), Viacom, Liberty, and TW are being extremely careful when it comes to signficant network assets.  The auction lasted seven months, with Time Warner dropping out over the price.  According to Kagan's the Economics of Basic Cable Networks, TWC had $130m of Cash Flow in 2007.  Other sources of income include "a top 15 web site, the No. 1 mobile content provider, the world's leading B2B weather business and the No.1 weather radar provider".  According to MultiChannel News, Landmark originally sought as much as $5 billion.  Reports suggest that TWC had overall EBITDA of as much as $276m, indicating a multiple of 12.5x.  TWC has an outstanding brand, perishable programming, a strong web presence and multiple revenue sources.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Accounting Statements and Economic Policy - The reality of the age of inflation amidst falling wealth

July 1, 2008

Analysis of:Fed sits tight as ECB chief signals rate rise | www.ft.com

Economic  policy  globally  is  today  focused  on  inflationary  concerns  combined  with  keeping  the  growth  momentum. The  subprime  crisis  has  amply  demonstrated  that  the  creation of  wealth  is  fast  turning  towards  the  negative  zone  especially  with  the  number  of  funds  under  pressure  on  account  of  declining  household  ability  to  service  debts  taken  for  wealth  creation.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Convergence of Accounting Standards - Good, Bad or Ugly?

July 1, 2008

Analysis of:FASB Agenda Takes on Global Spin | www.cfo.com

A  lot  has  been  written  about  the  convergence  of  accounting  standards over  the  last  few  years. The  bandwagon  also  moves  on. There  are  however  major  stumbling  blocks. In  this  analysis  I  look  at  whether  Convergence  will  be  good, bad  or  ugly?

Pushing the Panic-Button inview of an Economic Downturns.

June 26, 2008

Analysis by: GLG Expert Contributor

Analysis of:Creating Customer Value in a Down Economy | blog.insight-data.com

Often a natural reaction to an economic downturn in most types of businesses is to cut expenses.  The first areas of the business to get whacked are the Marketing, HR departments.  That's right, the communication vehicle to its customers and the heart & soul of its company. 

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