GLG News in Accounting & Financial Analysis

CMS has the objective of keeping their costs down, increasing quality, protecting the Stark laws against physician referrals, and guarding against beneficiaries being enticed to receive more services than necessary.  CMS threw all these objectives into the ACE demonstration project.  The problems with the ACE demonstration project are:    1)      Providers...

The article goes into sub-prime mortgage valuations. i wanted to add a couple of comments about the negaitive effects of homes/properties being repossessed. This causes losses for the lender as they do not recover the principal and interest outstanding. It causes devastation and financial and social/psychological loss for the families evicted. I feel governements could assist i delaying repossessions...

The referred  article  gives  three different expert perspectives on fair value. In this analysis I  look  at  what  drives  fair  value  and  why fair value accounting applied on a consistent basis can help avoid poor financial reporting.

1) IFRS will help to see all Financial Statements homologating criteria which contributes to improve investment activity around the world. 2) Even mentioned IFRS must be reviewed in some aspects also, because some issues do not reflect a the real business activity.  

The rating agencies -- including Moodys -- have long been under scrutiny relative to their "computer glitches."  We are learning that these are not so much "glitches" as they are conflicts of interest between the rating agencies and the clients they rate.  The exorbitant fees paid by the clients being rated -- directly to the rating agencies -- precludes a fair assessment.

The mortgage crisis, the hyperinflationary oil prices and gyrations in securities markets apart from the  errors by  rating institutions point to  a  coming metamorphosis in  the  presentation of  accounting statements. Accounting literature gives little guidance on how  to  present financial statements in accordance with inflation. The only little bit...

This  analysis  takes  a  look  at  the  issues  involving  fair  value. While  fair  value  is  becoming  increasingly  relevant  yet  it  raises  several  problems  and  complicated  issues. The FASB  and  IASB  alongwith  all  major  accounting ...

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.

The housing bust is not over and trends continue to be negative.  The only positive activity is that homebuilding stocks have gone up, without a good reason.  We still have a ways to go to work through all this.

The title of the article is a misnomer - it is the FASB not GAAP that is being replaced.  With little debate or scrutiny, and no cost/benefit analysis of which I'm aware, the SEC has decided to replace United States GAAP with that of an international body over which it has no control. Accounting is the basis of business decisions and to outsource that authority is frightening to say the least....