Archive | 2015 Reports

2015 Reports

Volume 24, No. 13

What Keeps the SEC Busy - 2016:  The American Institute of Certified Public Accountants held its annual “Current SEC & PCAOB Developments Conference” in Washington, DC last week. Speakers came from all of the major accounting agencies or standard-setters: the …

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Volume 24, No. 12

Materiality Matters:  The FASB has issued two exposure drafts for comment, and they seem aimed squarely in the interest of just one constituent of the standard setting body: the preparer community. One proposal amends a FASB Concept Statement, which is

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Volume 24, No. 11

FASB's Fix For Pension Reporting: Small Steps, Bigger Operating Earnings:  Investors treat pensions much like a leaky roof: their attention is captured only when the roof leaks, or when there’s a funding problem requiring cash injections into a pension

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Volume 24, No. 10

The Non-GAAP Earnings Epidemic, Part 2:  If accounting is the language of business, then the SEC provided the scaffolding for building the Tower of Babel when it issued Regulation G in 2003. That regulation legitimized the presentation of non-GAAP earnings

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Volume 24, No. 9

Where It Lives In The S&P 500: The Non-GAAP Earnings Epidemic, Part 1:  Investors have made adjustments to earnings reports for about as long as earnings reports have existed. In the last few years, it seems to have become much

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Volume 24, No. 8

Can Regulators Make Audits Matter More? Three Proposals Offer Some Hope: Investors care about the inputs to earnings: the revenues, the costs of production, and the taxes. They’ll agonize over changes in the cost of wheat, or steel, or labor,

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Volume 24, No. 7

S&P 500: How The Dollar Ate Equity In 1Q15:  To no one’s surprise, the powerful dollar punished earnings in the first quarter. What may be a surprise: the dollar’s strength continued to chew into the value of cash in foreign

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Volume 24, No. 6

S&P 500 Defined Benefit Plans: State Of The Pension Promise, 2014:  Defined benefit plans are the financial reporting embodiment of the lament, “It seemed like a good idea at the time.” Once, they were a way to mollify unions by

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Volume 24, No. 4

S&P 500: The Silent Havoc From The Almighty Dollar To paraphrase nearly every GEICO commercial: “The strong dollar sank earnings in the last half of 2014.” “Well, everybody knows that.” 

But did you know that weak earnings aren’t the only

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