Thursday May 19, 2016 You must know that a young man learns as much in six moths in a counting room as in four years at college (which) only made poor gentlemen and spoiled clever tradesmen. No stimulus to learning can be half as great as when A boy can figure it out on his…

Monday April 25, 2016 As previously reported the SEC continues to crack down on non GAAP reporting. This has allowed many companies to spin losses into earnings.

Friday April 15 2016 My favorite thirty minutes on tv is the WSJ Editorial Report that usually runs about 11 30 AM Saturday and 2 30 PM Sunday on Fox News. The regulars who write opinion columns for the WSJ each week are on and present their views. Today Kim Strassel wrote a column worth…

Wed April 13, 2016 The PCAOB strengthened the ability of the lead auditor to control other auditors. Seems that some 55% pf audits involve another firm performing some of the work. New rules will allow more supervision of these third parties.

Tuesday March 22, 2016 We are studying Plant, Property, and Equipment along with intangible assets. But accounting does not account for exisitng intangibles on the books unless the company paid for them. This article notes that Radio Shack's books did not acknowledge two valuable assets, the brand name and customer data. In a concluding example…

Thursday March 17, 2016 The SEC sounds the alarm on customized earnings. In financial accounting we study Generally Accepted Accounting Principles or GAAP. These prescribe a specific way to prepare financial statements and EPS. However companies have been publishing their own version of GAAP. The SEC is cracking down on this extra legal form of…

Monday March 7, 2016 Here is the latest on IFRS and GAAP. The author makes the point that global accountants will need to know both.

Monday Feb 22, 2016 Bareburger is the latest hit in NYC and about to go nation wide. Conventional waiters bring the fare to your table. And a variety of meats are offered. This is an interesting development to the traditional fast food offering.

Wed Feb 17, 2016 KPMG finds only 29% are prepared to implement changes in revenue recognition and lease accounting.

Friday Feb 12 2016 Boeing shares dropped on questions about its use of program accounting. Ethics students looking for a topic should consider this one. BA has been dropping this year and now the plunge begins again. Program accounting, which is a method of long term recognition of profit on construction, is apparently GAAP. In…