edited by: Tracy Coenen,
Accounting Editor
Reader reaction indicates that I touched a sensitive subject, when I suggested on November 10 – here – that there was a mis-alignment in the compensation models of the large accounting firms, who distribute immediate profits to their current partners while the potentially devastating impact of related litigation takes years to befall the succeeding [...]
It's crunch time. This week, the House of Representatives will decide on a bill that will give the new systemic risk regulator the power to override the SEC's judgment in its oversight of the Financial Accounting Standards Boards. It would set up a "council" of interested parties to exercise its [...]
I’ve lost track of the number of CPAs and tax professionals who have asked me for advice on building up a clientele. I always advise against paying those “marketing” firms that promise to attract new accounting and tax clients via their deceptive advertising. Those are scams.
I have been telling [...]
I’m starting to think it is.
I’ve been spending some time the last couple of days digging deep into fair value accounting, and I’m struck by how unnecessarily absurd the whole exercise turned into. Read my comments here.
Today I came across an old article from 2007 in the CPA Journal, [...]
Jack Ciesielski is dead-on in his post "An Accounting Vortex," in which he describes the turbulent, spinning changes in accounting regulations and standards.
Specifically, he is referring to the SEC's quick reversal from a slowdown to a race to get to IFRS fast.
Then there is the House' [...]
Three NYSSCPA members are now serving on the Standing Advisory Group of the Public Company Accounting Oversight Board (PCAOB). Anthony S. Kendall was newly appointed to the panel, where he joins Immediate Past President Sharon Sabba Fierstein and Wayne A. Kolins, who was reappointed.
[...]
There are so many things going on in the standard-setting arena, it makes your head spin. And your stomach as well.
At last September's Pittsburgh meeting, the G-20 "call[ed] on our international accounting bodies to redouble their efforts to achieve a single set of high quality, global accounting" [...]
Floyd Norris reports.
This year, a subcommittee of the House Financial Services Committee held a hearing at which legislators sought no facts but instead threatened dire action if the chairman of the financial accounting board did not promptly make it easier for banks to ignore market values of the toxic [...]
Am I the only one who’s noticed?
In April they did a piece slamming the Obama administration for an increase in the cigarette tax and claiming that the President violated a campaign pledge. The editors at AccountingWeb took their talking points from Americans for Tax Reform, the group founded by [...]
