Monthly Archives: December 2011

Happy holidays! Cut the IRS budget!

Blackswan writes: Deadbeats’ Christmas gift wish may actually be happening this year. According to the IRS commissioner, Congress might have shot itself in the foot this time by reducing the IRS’s budget by $500 million next year. In a letter

Happy holidays! Cut the IRS budget!

Blackswan writes: Deadbeats’ Christmas gift wish may actually be happening this year. According to the IRS commissioner, Congress might have shot itself in the foot this time by reducing the IRS’s budget by $500 million next year. In a letter

Who else botched up MF Global?

http://finance.yahoo.com/news/insight-cmes-duffy-vs-mf-233304076.html In the wake of the MF Global scandal there are many questions being asked about the participants. CEO of the failed investment bank, Jon Corzine, is being attacked about his knowledge of some $1 billion dollars in customer funds

Who else botched up MF Global?

http://finance.yahoo.com/news/insight-cmes-duffy-vs-mf-233304076.html In the wake of the MF Global scandal there are many questions being asked about the participants. CEO of the failed investment bank, Jon Corzine, is being attacked about his knowledge of some $1 billion dollars in customer funds

Should banks follow more conservative loan loss rules?

Hockey93 writes: Just read this article in the WSJ about an agreement between the FASB and IASB on changing loan-loss rules. The two boards have agreed in principle on a new standard for loan-loss accounting. The new standard will require

Should banks follow more conservative loan loss rules?

Hockey93 writes: Just read this article in the WSJ about an agreement between the FASB and IASB on changing loan-loss rules. The two boards have agreed in principle on a new standard for loan-loss accounting. The new standard will require

FASB vies to change consolidation accounting

Michael writes: http://inaudit.com/regulatory/fasb-issues-proposed-improvements-to-consolidation-accounting-12017/ In a recent Accounting Standards Update the Financial Accounting Standards Board (FASB) has proposed measures that would increase transparency and consistency of financial reporting about consolidations. Companies would soon be required to reevaluate their ties to other

FASB vies to change consolidation accounting

Michael writes: http://inaudit.com/regulatory/fasb-issues-proposed-improvements-to-consolidation-accounting-12017/ In a recent Accounting Standards Update the Financial Accounting Standards Board (FASB) has proposed measures that would increase transparency and consistency of financial reporting about consolidations. Companies would soon be required to reevaluate their ties to other

The CPA goes south

Michael writes: http://www.accountingtoday.com/news/AICPA-Brazilians-Agree-CPA-Exam-Abroad-61084-1.html The AICPA, along with the National Association of State Boards of Accountancy and Prometric, recently announced plans to launch the Uniform CPA Examination in Brazil, starting next February. Testing will be open to citizens and long-term residents

The CPA goes south

Michael writes: http://www.accountingtoday.com/news/AICPA-Brazilians-Agree-CPA-Exam-Abroad-61084-1.html The AICPA, along with the National Association of State Boards of Accountancy and Prometric, recently announced plans to launch the Uniform CPA Examination in Brazil, starting next February. Testing will be open to citizens and long-term residents

“We all think we’re going to get out of debt.” -Louie Anderson

Spfahey writes: http://finance.fortune.cnn.com/2011/12/13/frank-newman-china-spending/?iid=HP_River Frank Newman, former deputy secretary of the U.S. Treasury, presents one of the most interesting arguments I have seen for government deficit spending. I have thought all along that the best way out of a recession would be to

“We all think we’re going to get out of debt.” -Louie Anderson

Spfahey writes: http://finance.fortune.cnn.com/2011/12/13/frank-newman-china-spending/?iid=HP_River Frank Newman, former deputy secretary of the U.S. Treasury, presents one of the most interesting arguments I have seen for government deficit spending. I have thought all along that the best way out of a recession would be to

Are most unemployed people lazy?

A. Nonymous writes: http://blogs.wsj.com/economics/2011/11/30/congress-wrestles-with-2012-unemployment-benefits-extension/ Reading this article and its comments gave me mixed feelings. I know there are people out there who really need the aid and are really trying to find a job, but contrary to popular belief that

Are most unemployed people lazy?

A. Nonymous writes: http://blogs.wsj.com/economics/2011/11/30/congress-wrestles-with-2012-unemployment-benefits-extension/ Reading this article and its comments gave me mixed feelings. I know there are people out there who really need the aid and are really trying to find a job, but contrary to popular belief that