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Author: M. A. Gumport
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
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Book Description
The Financial Accounting Standards Board (FASB) has long recognized shortcomings in fundamental accounting principles that are exacerbated by the proliferation of increasingly complex financial instruments. The FASB has been engaged since 1986 in a project to align financial reporting with economic substance and improve consistency.The FASB recently issued its Preliminary Views. Key points are:- After a 22 year effort, the result should be good. It is not. - A carve out is provided to allow separate consideration at a future date for the treatment of compensation options. Until then, option compensation accounting (SFAS 123R), though flawed, is exempted. Hot potato!The FASB Preliminary Views lists two fundamental premises of accounting that contribute to engineered earnings and inconsistent reporting: 1) The definition of equity, and 2) The exclusion of equity items from the income statement. The FASB's proposed solution is to redefine equity and deals with only the first premise while ignoring the second. If adopted, the result will be a tedious, case by case dispute on whether an instrument qualifies to be treated as equity, and a crop of new securities will surely arise to skirt the revised rules. Meanwhile, a simple, comprehensive opportunity (the claims approach, part of a 1990 FASB Discussion Memorandum) to modernize accounting by marking equity to market within the income statement has been scrapped.
Author: M. A. Gumport
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
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Book Description
The Financial Accounting Standards Board (FASB) has long recognized shortcomings in fundamental accounting principles that are exacerbated by the proliferation of increasingly complex financial instruments. The FASB has been engaged since 1986 in a project to align financial reporting with economic substance and improve consistency.The FASB recently issued its Preliminary Views. Key points are:- After a 22 year effort, the result should be good. It is not. - A carve out is provided to allow separate consideration at a future date for the treatment of compensation options. Until then, option compensation accounting (SFAS 123R), though flawed, is exempted. Hot potato!The FASB Preliminary Views lists two fundamental premises of accounting that contribute to engineered earnings and inconsistent reporting: 1) The definition of equity, and 2) The exclusion of equity items from the income statement. The FASB's proposed solution is to redefine equity and deals with only the first premise while ignoring the second. If adopted, the result will be a tedious, case by case dispute on whether an instrument qualifies to be treated as equity, and a crop of new securities will surely arise to skirt the revised rules. Meanwhile, a simple, comprehensive opportunity (the claims approach, part of a 1990 FASB Discussion Memorandum) to modernize accounting by marking equity to market within the income statement has been scrapped.
Author: Robert E. Litan
Publisher: American Enterprise Institute
ISBN: 9780844741475
Category : Accounting
Languages : en
Pages : 112
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Book Description
Today's knowledge-based economy requires an entirely new system of assessing the value of companies--a system tapping the vast communication capabilities of the Internet.
Author: Laurence Ferry
Publisher: Springer
ISBN: 3319994328
Category : Political Science
Languages : en
Pages : 146
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Book Description
This book considers how the practical and public policy relevance of research might be increased, and academics and practitioners can better engage to define research agendas and deliver findings relevant to accounting and accountability in the public services. To do so, an international comparative analysis of the research-practice gap in public sector accounting has been undertaken. This involved academic perspectives from over twenty countries, and practitioner perspectives from leading international professional accounting bodies actively involved in the public services arena. It was found that research is valued for informing practice, but engaging at a high level of policy engagement has been primarily by a small group of experienced researchers. For other researchers the impact accomplished may not always be valued highly in the academic community relative to other, more scholarly, activities. The book therefore looks at how engagement and impact between academics and practitioners can be increased.
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 300
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Book Description
Author: Thomas R. Robinson
Publisher: John Wiley & Sons
ISBN: 1119029740
Category : Business & Economics
Languages : en
Pages : 1064
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Book Description
Better analysis for more accurate international financial valuation International Financial Statement Analysis provides the most up-to-date detail for the successful assessment of company performance and financial position regardless of country of origin. The seasoned experts at the CFA Institute offer readers a rich, clear reference, covering all aspects from financial reporting mechanics and standards to understanding income and balance sheets. Comprehensive guidance toward effective analysis techniques helps readers make real-world use of the knowledge presented, with this new third edition containing the most current standards and methods for the post-crisis world. Coverage includes the complete statement analysis process, plus information on income tax accounting, employee compensation, and the impact of foreign exchange rates on the statements of multinational corporations. Financial statement analysis gives investment professionals important insights into the true financial condition of a company. With it, realistic valuations can be made for investment, lending, or merger and acquisition purposes. The process is becoming increasingly complex, but this book helps readers deal with the practical challenges that arise at the international level. Understand the accounting mechanics behind financial reporting Discover the differences between statements from around the world Learn how each financial statement element affects securities valuation Master analysis for clues into operations and risk characteristics Amid an uncertain global economic climate, in today's volatile international markets, the ability to effectively evaluate financial statements is a critical skill. Standards and conditions are continuously evolving, and investment professionals need a strong, up-to-date resource for the latest rules and best practices. International Financial Statement Analysis provides this and more, with clarity and expert advice.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Corporation law
Languages : en
Pages : 680
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Book Description
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Corporation law
Languages : en
Pages : 682
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Book Description
Author: CFA Institute
Publisher: John Wiley & Sons
ISBN: 1119315999
Category : Business & Economics
Languages : en
Pages : 6117
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Book Description
Clear, concise instruction for all CFA Level I concepts and competencies for the 2017 exam The same official curricula that CFA Program candidates receive with program registration is now available publicly for purchase. CFA Program Curriculum 2017 Level I, Volumes 1-6 provides the complete Level I Curriculum for the 2017 exam, delivering the Candidate Body of Knowledge (CBOK) with expert instruction on all ten topic areas of the CFA Program. Fundamental concepts are explained with in-depth discussion and a heavily visual style, while cases and examples demonstrate how concepts apply in real-world scenarios. Coverage includes ethical and professional standards, quantitative analysis, economics, financial reporting and analysis, corporate finance, equities, fixed income, derivatives, alternative investments, and portfolio management, all organized into individual sessions with clearly defined Learning Outcome Statements. Charts, graphs, figures, diagrams, and financial statements illustrate concepts to facilitate retention, and practice questions provide the opportunity to gauge your understanding while reinforcing important concepts. The Level I Curriculum covers a large amount of information; this set breaks the CBOK down into discrete study sessions to help you stay organized and focused on learning-not just memorizing-important CFA concepts. Learning Outcome Statement checklists guide readers to important concepts to derive from the readings Embedded case studies and examples throughout demonstrate practical application of concepts Figures, diagrams, and additional commentary make difficult concepts accessible Practice problems support learning and retention CFA Institute promotes the highest standards of ethics, education, and professional excellence among investment professionals. The CFA Program Curriculum guides you through the breadth of knowledge required to uphold these standards. The three levels of the program build on each other. Level I provides foundational knowledge and teaches the use of investment tools; Level II focuses on application of concepts and analysis, particularly in the valuation of assets; and Level III builds toward synthesis across topics with an emphasis on portfolio management.
Author: Roger Hussey
Publisher: Business Expert Press
ISBN: 1606497316
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
For many years, individual countries created their own rules and regulations for company financial accounting and reporting. As the world became more global, problems began to arise. A company could make a profit for the year if the rules in its own country were applied, but this could turn into a loss if another country’s rules were used. To prevent this confusing and misleading state of affairs, standards were issued by the International Accounting Standards Board (IASB). Since 2002, the standard setter in the United States, the Financial Accounting Standards Board (FASB), has been actively engaged with the IASB in attempting to converge U.S. regulations with international accounting standards. This book describes: • The process for setting accounting regulations in the United States • Attempts to establish international standards and the barriers confronted • U.S. involvement in international activities through a process known as convergence • Differences that have halted convergence and the U.S. strategy • Frauds and questionable activities and describes the FASB’s efforts to ensure that financial statements do not mislead their users
Author: Roger Hussey
Publisher: Business Expert Press
ISBN: 1947098942
Category : Business & Economics
Languages : en
Pages : 148
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Book Description
The first edition of this book explained the efforts of the International Accounting Standards Board (IASB) to develop accounting regulations to be used worldwide. In 2002, progress was accelerated by the decision of Financial Accounting Standards Board (FASB) in the United States to converge their regulations with international standards. This second edition describes the successes and failures of the convergence project. The U.S. involvement brought about many changes in corporate financial reporting, but there were differences in opinions on specific issues. This resulted in the FASB, US focusing on its own regulations. We explain the main convergence achievements and also the differences leading to the end of the project. Our analysis reviews new developments in corporate reporting, including the issues of sustainability, governance, and integrated reporting.
