To say the same after applying fresh-start accounting would be a statement of fact.
Other pluses: quick switching, a single periodic statement and easier accounting at tax time.
An example is the FASB's recent Statement 13 on accounting for leases.
FORBES: Why Everybody's Jumping On The Accountants These Days
Also on Saturday, HDFC Bank said in an emailed statement it has appointed accounting and audit firm Deloitte Touche Tohmatsu India Pvt.
Related to the entire discussion is the effect of the issuance of Financial Accounting Standards Board (FASB) Statement No. 157 "Fair Value Measurements, " which became effective for entities with fiscal years beginning after November 15, 2007.
Seifert's departure is not based on any disagreement over the Company's accounting principles or practices, or financial statement disclosures.
ENGADGET: AMD CFO Thomas Seifert calls it quits, Devinder Kumar takes his place on an interim basis
For one thing, as Bristol (nyse: BMY - news - people ) Chief Executive Peter Dolan argued in a prepared statement, it may help put the company's awful accounting behind it.
Note that that statement is made without even the slightest hint that there are the above accounting issues.
FORBES: Links 21 Nov: HP v. Autonomy. Time To Make The Popcorn
Aggreko said in a statement that the new structure would create a more balanced organisation, with each of the units accounting for 30-40% of group trading profit.
"As the agency charged with overseeing the public airwaves, we are committed to ensuring that the consumers affected by this breach of privacy receive a full and fair accounting, " said Michele Ellison, the chief of the FCC's enforcement bureau, in a statement confirming the investigation.
"This situation is a good example of why traditional accounting methods aren't an accurate way to determine value for research and development, " IV says in a statement.
Moreover, because the marquee financial statement fraud cases of the early 2000s were a significant driver of growth in white collar defense and forensic accounting practices, the decline of those kinds of cases has been duly noted in professional circles.
FORBES: Restatements Resurrected?: Accounting Fraud By The Numbers
In a statement to FORBES, SEC Enforcement Director Robert Khuzami argued that the task force was no longer needed because accounting expertise exists throughout the agency, and the number and severity of earnings restatements (a flag for possible accounting fraud) has declined dramatically since the mid-2000s.
FORBES: Is The SEC's Ponzi Crusade Enabling Companies To Cook The Books, Enron-Style?
应用推荐