All GLG News Analyses Filed Under: Accounting Regulatory Bodies
Posted May 27, 2008
The Beginning of the End of GAAP
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
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.
Posted May 16, 2008
The Beginning of the End of GAAP
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
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...
Posted May 13, 2008
The Beginning of the End of GAAP
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
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...
Posted May 12, 2008
The Beginning of the End of GAAP
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
1. Given all of the differences between US GAAP and IFRS it will be a few more years before convergance occurs. 2. There is a lack of conformity with respect to adherance to IFRS as it has been promulgated into law. As such, it is difficult to review a financial statement completed...
Posted May 5, 2008
SEC's Atkins Calls for Fair-Value Guidance
Analysis of: SEC's Atkins Calls for Fair-Value Guidance | www.cfo.com
Author: GLG Member Program Contributor
Analysis of: SEC's Atkins Calls for Fair-Value Guidance | www.cfo.com
Author: GLG Member Program Contributor
1. Something is clearly worth nothing when nobody wants to buy it, e.g., Bear Stearns price went from $58/share to zero. 2. Option pricing theory tells us that the equity in a firm functions as a long-term option. Clearly, Bear Sterns "American-style equity option" was clearly out-of-the-money. 3. However,...
Posted May 5, 2008
The Beginning of the End of GAAP
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
Analysis of: The Beginning of the End of GAAP | www.cfo.com
Author: GLG Member Program Contributor
As the global accounting convergence process progresses a number of contentious issues are being raised. This analysis takes a look at some of these issues.
Posted April 28, 2008Could something be clearly worth zero?
Analysis of: SEC's Atkins Calls for Fair-Value Guidance | www.cfo.com
Author: Robert McCabe, Partner McCabe & Associates, PhDs
How can an SEC Commissioner who is obviously not familiar with Fair Value estimates call for changing the existing guidance? The value of something is zero if that is what you can buy and sell it for.
Posted April 4, 2008
Reducing Complexity in Reporting Financial Instruments
Analysis of: Reducing Complexity in Reporting Financial Instruments | www.fasb.org
Author: GLG Member Program Contributor
Analysis of: Reducing Complexity in Reporting Financial Instruments | www.fasb.org
Author: GLG Member Program Contributor
The concept of fair value, value in exchange, risk measurement and the evolution of new derivative instruments continue to confound the initiated and the beginner. In this concept ...
Posted March 31, 2008Bush Nominates Two Democrats to SEC: More of the Same is Likely
Analysis of: White House to Tap Two Dems to SEC | www.cfo.com
Author: Ronald Kiima, President Kiima Incorporated
Will President Bush's recent nomination of two Democrats to the SEC make it more investor friendly? Not likely!
Posted March 27, 2008Derivatives - More Disclosure Is Always Better for Financial Analysts
Analysis of: Statement of Financial Accounting Standards 161 | www.fasb.org
Author: Robert Kemp, Professor University of Virginia - CC
1. Value is defined by risk. Risk deals with uncertainty of the future. How a firm manages risk is a major determinant of its value. 2. Accounting standards are dedicated to reporting the past. Given it is the past, there is little risk or uncertainty regarding such events. ...
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