Sunday, November 30, 2008
~~~~ “ The American Institute of CPAs’ business subsidiary CPA2Biz has signed a deal with Google to offer Google AdWords as a way for accounting firms to market and promote their services via local paid search ads.
Google’s AdWords service delivers keyword-targeted ads when Web users search for particular products and services. The AdWords program would [...]
Monday, November 24, 2008
Michael Spence writing in the Financial Times does a good job sketching the interrelatedness and leverage of the global financial system and the reverb between balance sheets and income statements … he forgets to mention the shadow banking system, lack of transparency and dreaded derivative canker….
Balance sheets and income statements: breaking the downward spiral
November 24, 2008
By [...]
Monday, November 24, 2008
Bloomberg News interview with Former FDIC Chairman William Isaac… guess what he says? “Mark-to-market is gumming up the system…” …. he thinks that the banks are a lot healthier than they appear to be… “nobody is looking at these assets (MBS)… just looking at an index that is being manipulated by traders…”
Dear Mr. Isaac… no [...]
Monday, November 24, 2008
the wind is rushing after us, and the clouds are flying after us, and the moon is plunging after us, and the whole wild night is in pursuit of us; but, so far we are pursued by nothing else.
charles dickens | ‘a tale of two cities’
The shadow banking system…
How big?
Where is it?
It’s the [...]
Monday, November 17, 2008
From CFO.com…
~~~~ The regulator (SEC) releases its roadmap for transitioning U.S. companies to international accounting rules, and estimates the costs….
…Under the SEC’s proposed timeline, released on Friday, all publicly traded U.S. companies would be required to use IFRS within six years. However, at least 110 companies could use the international rules as early as next [...]
Wednesday, November 12, 2008
This is a placeholder for some information related to procyclicality, fair value, capital adequacy…
From CFO.com…
~~~~ ” ….Paul Boyle, chief executive of the Financial Reporting Council, told the Treasury Committee that there should be a separation between the way accounting rules and capital requirements operate, similar to the way corporate profits are calculated differently for tax [...]
Tuesday, November 11, 2008
Niseko Hokkaido, Japan
I’ve been reading that politicians in Europe and the US have been interfering with accounting standards… it’s understandable how politicians believe that the short term gain of “stability” is more crucial than maintaining high levels of transparency… it’s easy to imagine lobbyists and others describing how the entire system will unhinge if the [...]
Do bankers dislike accountants?
Are bankers seething as accountants hold their feet to the fire over valuing significant parts of their illiquid balance sheets?
Did mark-to-market accounting cause the credit crisis?
No, says Sir David Tweedie, Chairman of the International Accounting Standards Board in an interview with the Financial Times … he says that the crisis was caused [...]
Tuesday, November 4, 2008
Yes… accountants can be silly… amazing… the financial black and white truth seekers do embrace levity now and then… hence the trail of M2Ms…
** Mark-to-market…
** Mark-to-model…
** Mark-to-myth…
** Mark-to-hope…
I surfed to this site where Francine McKenna excoriates accountants and auditors… sizzling…
Wrestling with the Truth makes heat… wrestling in the open attracts onlookers and commenters… shades of the Greek academy [...]
Wednesday, October 29, 2008
Listened to the SEC’s Roundtable for Mark-to-Market Accounting **M2M** … (put me in the geek pool…)
Accounting standards share company with capital adequacy and valuation standards in defining the health of financial institutions…
A web of rules supporting the banking system …
In the Credit Crisis of 2007-2008 there is no time to amend Basel or restructure market pricing [...]