All GLG News Analyses Filed Under: Accounting Regulatory Bodies

Managing market Capitalisation-An Effective Tool towards Corporate Excellence

November 6, 2007

Analysis by: GLG Expert Contributor

Analysis of:More to the bottom line debate | www.ft.com

In the scenario of developed Stock market the perceived value of Business to the Investor community is an important indicator of Business valuation. Market Capitalisation, thus is fast becoming an universally accepted indicator of Business Valuation. Unipolar focus on working towards increased Market Capitalisation thus can be an effective tool of increasing overall Business performance. The article shows light towards effective methodology of Managing market capitalisation.

Life Without a Single EPS Figure or P/E Ratio – Hard to Imagine

November 1, 2007

Analysis by: GLG Expert Contributor

Analysis of:More to the bottom line debate | www.ft.com

An accounting project is currently in the works that could significantly change the way financial statements are presented. The most controversial part of the proposal appears to be the potential elimination of net income – and (logically) the potential elimination of a single EPS figure. This in turn could jeopardize the utility of arguably the most popular measure of a company's valuation - the P/E ratio.  The "Analysis" section below discusses a recent letter sent to the U.S. Financial Accounting Standards Board (FASB) and London-based International Accounting Standards Board (IASB), which warns that not having a single earnings number would be a very bad idea.

US Can't Isolate Themself Anymore

October 29, 2007

Analysis by: GLG Expert Contributor

Analysis of:US accounting chief calls for ‘unity’ timetable | www.ft.com

Despite various debate and argument over the acceptable of IFRS as the only accounting standard is the painful process for US, the point is most of the world already accepted and US should put more effort to do the same as the world is not waiting.

Financial Statements – Get Ready for a Potentially Significant “Face-Lift”

October 9, 2007

Analysis by: GLG Expert Contributor

Analysis of:FASB Handouts - Financial Statement Presentation Meeting | www.fasb.org

This post specifically discusses an accounting project currently in the works that could significantly change the way financial statements are presented.  The "Analysis" section below discusses and gives examples of various alternatives to the financial statements currently being considered.  The financial statement presentation project could potentially result in a significant “face-lift” to financial statements as we know them.  The proposed changes being contemplated would undoubtedly present a notable learning curve for investors to overcome.

THE PROPRIETY OF INTERNATIONAL FINANCIAL REPORTING STANDARDS

September 21, 2007

Analysis by: GLG Expert Contributor

Analysis of:IASB Revises Financial Statements Standard | www.webcpa.com

WHY PROPER The idea of having International Financial Reporting Standars is appropriate in view of the current wave of globilization. Its implementation is providing one important facility for free movement of capital and reporting on its performemnce. However, there are major considerations that must be taken into account. DIVERSITY OF LEGAL AND ECONOMIC REGIMES Different legal and economic regimes call for different reporting requirements. The areas of taxation and stakeholder preferences are perhaps the most obvious. It is therefore should be correct that International Accounting Standards should more generic than specific, concentrating on international convergence of accounting principles and leaving the details pertaining to rules to local jurisdictions. The question the is it correct to to adopt the standars wholesale without customising them to suit local conditions? INERNALISING THE PROCESS  Customising the International Standards would help to internalise the   

International Financial Reporting Standards Contribute to Global Economic Progress

September 20, 2007

Analysis by: GLG Expert Contributor

Analysis of:IASB Revises Financial Statements Standard | www.webcpa.com

Internationalization of business and capital markets has resulted in an economic environment that would be improved by uniform procedures for financial statement preparation. This would benefit investors, lenders, financial analysts, accountants, and auditors. The IASB has developed International Financial Reporting Standards (IFRS) which provide uniform procedures, which facilitate comparability of financial statements among firms of diverse country locations.

Edward WeinsteinPrincipalEdward A. Weinstein, CPA

MATERIALITY: WHOSE BUSINESS IS IT?

July 24, 2007

Analysis of:What's Better in Accounting, Rules or 'Feel'? | online.wsj.com

Elaboration on the materiality protocol auditors of financial statements employ. 

Robert KempProfessorUniversity of Virginia - CC

Global Convergence of Accounting Standards: A Reality Check for Financial Analysts and All Involved

June 21, 2007

Analysis of:Foreign Affair: Is End Near For "U.S. Only" Accounting? | online.wsj.com

1.    Convergence of U.S. and international accounting standards is coming. 2.    The pace for this evolution is quickening. 3.    This convergence is troublesome, not because of its goals, but because of the expectations of financial statement users. 4.    Users of financial statements must be educated to the differences in accounting standards, and the implications that different approaches yield.  These implications also include legal issues/recourse.

Biggest changes is State and Local in 15 years - Are you ready?

May 24, 2007

Analysis by: GLG Expert Contributor

Analysis of:Will FIN48 spark state tax scrutiny | www.cfo.com

FIN 48 impact in State and Local is underestimated! FIN 48 applies to net income tax. The States are moving to economic nexus "doing business standards" The Supreme Court has been asked to hear the MBNA case and may redefine nexus standards and make the substantial nexus bright line test obsolete.  Companies who do not proactively prepare for the implication of not only FIN 48 but the cases that are changing the world of State and local will be caught in the backwash of issues. These changes are the biggest in 15 years. And most companies are blissfully unaware of the tsunami coming.

George PughPresidentGeorge Pugh & Co

How Proposed Rules Could Render Current Accounting Practice Meaningless

May 24, 2007

Analysis of:Profit as We Know It Could Be Lost With New Accounting Statements | online.wsj.com

In the months to come, the FASB and the IASB, its European counterpart, will release a draft on plans to revamp current financial statement disclosures. Two possible changes cited in the article are the disappearance of net income, and an asset presentation that no longer separates assets and liabilities. The following link provides possible financial statements under the proposed rules:http://online.wsj.com/public/resources/documents/WSJ0507-fasac_march07.pdfIn the past, financial statements were issued to satisfy the needs of bank lenders. One of the goals is to provide investors with better information. It is envisioned that one day, a global set of accounting standards will come from this effort.Certainly, if implemented, the accounting disclosures would change radically, making the current professional knowledge base obsolete. The question should be: will these changes help the users?

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