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Posted on May 13th, 2012
Many preparers and auditors of financial statements use, or permit the use of, theoretical valuation models for valuing illiquid derivative instruments, even though the results are inaccurate and misleading. The Black-Scholes method was the predominant model for many years, and was even endorsed by accounting rules prior to the introduction of FAS [...] Posted on September 28th, 2011
In Gallagher v. Commissioner, not only did the Internal Revenue Service lose badly, but it did so even with seemingly very good facts and past Tax Court opinions both on its side. It was not a great day in court for the government – in fact, it would have been better off not [...] Posted on June 9th, 2010
In its long awaited proposal, the FASB has expanded fair value accounting to nearly every financial asset. Companies have until September 30 to comment on the new proposal. Having more financial instruments reported at fair value means increased scrutiny by preparers, auditors and regulators. This especially applies to loans, non-public equity securities [...] Posted on April 6th, 2010
This ARS Holders Survey is based on data collected from filings in the public record as of December 31, 2009. This survey primarily includes 10Ks filed by calendar year companies, and, for the majority of the holders in this survey, the data includes their holdings as of year end 2009 and the accounting [...] Posted on March 23rd, 2010
There have been more exciting developments in the world of fair value accounting. The FASB’s tentative decisions would have a significant effect on fair value accounting affecting financial instruments across the balance sheet. 1 pages
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