Archive | 2013 Reports

2013 Reports

Volume 22, No. 13

What Keeps The SEC Busy - 2014:  The American Institute of Certified Public Accountants held its annual “Current SEC & PCAOB Developments Conference” in Washington, DC last week. Speakers were on hand from all of the major accounting agencies or

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Volume 22, No. 12

Rewriting The Audit Report:  The PCAOB Moves Closer:  In the summer of 2011, the Public Company Accounting Oversight Board issued a concept release intended to improve the way auditors communicate with investors. It wouldn’t take much to improve it: the

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Volume 22, No. 11

Non-GAAP Earnings: "Nothing Succeeds Like Excess":  That quote is attributed to Oscar Wilde, but it could just as well be attributed to Wall Street. Non-GAAP earnings  began as a way for investors to scrape the muck off of inscrutable income

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Volume 22, No. 10

S&P 500:  When Health Care Costs Improve Too Much:  Once feared, now forgotten. That’s the short story of other postemployment benefits obligations and their effects on corporate earnings. These costs were expected to grow to the sky forever when they

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Volume 22, No. 9

2012 S&P 500 Executive Pay:  "I'll Pour. You Say When.":  Like a medic pouring a cold drink for a victim of heat stroke, investors continually treat executives to long, tall pay packages that seem to go on forever. While investors

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Volume 22, No. 8

A New Leasing Accounting Proposal: FASB Stars in "Groundhog Day":  Twenty years ago, the modern classic “Groundhog Day” told the story of a shallow jerk of a weatherman who was forced to live Groundhog Day over and over until he

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Volume 22, No. 7

S&P 500 Pension Plans: Reality-Checking Their 2012 Status:  Call them the financial statements within the financial statements. There’s enough information within the pension footnotes to evaluate the health of the pension plans just as if they were a stand-alone company.

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Volume 22, No. 6

Back To The Drawing Board, Again: Classification & Measurement:  When the FASB issued its December 2012 exposure draft on accounting for impairment of financial instruments, it represented only “Part One” of a trilogy. (That’s one trilogy nobody in Hollywood will

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Volume 22, No. 5

Untaxed Foreign Earnings In 2012: A Look At The S&P 500:  It’s widely known that U.S. multinationals can arbitrage their taxation on a global basis. The essence of the game: park as much of your company’s expenses as possible in

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