This might sound like it doesn't have much to do with accounting scandals, but in practice it does in a potentially significant way.
WSJ: Jake Lynch: To Control Fraud, De-Control Chinese Capital
In practice, accounting changes may have forced pension funds to pay more attention to the short term.
ECONOMIST: Smooth returns can be a sign of danger for investors
The accepted practice in bank accounting is to set up significant loan-loss reserves only when the commitment is availed of and the arrangement becomes an on-balance-sheet loan.
Critical to super-charging your accounting practice is the ability to bring in new, high-quality, well-paying clients on a consistent basis.
Kadet, who was in private practice for more than 32 years working in international taxation for major international accounting firms.
FORBES: Tax And Territoriality: The Corporate 99% Versus The Law School 1%
Mr. Bisgay is a certified public accountant and was employed in the Financial Services Industry Practice at the accounting firm of PricewaterhouseCoopers LLP from 1989 to 2001, most recently as a Senior Manager.
Merck spokeswoman Gwen Fisher said Merck is confident that Medco's practice is in accordance with Generally Accepted Accounting Principles, and added that the company did not want to make any further comment because it is in a quiet period preceding the Medco IPO.
Sarbanes-Oxley, the often-reviled law that requires enhanced disclosure of accounting practices, seems to have put a stop to the backdating practice after its passage in 2002.
New Constructs includes off-balance sheet debt in all of its reports and adjusts the reported earnings of all companies for this misleading accounting practice.
FORBES: Off-Balance Sheet Debt: Bad Enough That FASB Notices, Maybe You Should Too?
The SEC claims that in July 2008 Yorkville changed its valuation policy for these illiquid investments in a way that was inconsistent with how the valuation practice was represented to its investors and its accounting firm.
应用推荐