Where Are the Accounting Profession’s Leaders?

Where Are the Accounting Profession’s Leaders – This article questions whether accountants will ever again be able to fulfill their responsibility to the public as financial watchdogs given their preoccupation with lobbying and litigation management.

 http://blogs.smeal.psu.edu/grumpyoldaccountants/archives/1

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Goodwill Games

Goodwill Games – As the furor over fair value reporting of financial instruments in the recent financial crisis fades, this article highlights what is potentially the next “time bomb” in financial reporting: recording unverifiable assets on corporate balance sheets.

http://blogs.smeal.psu.edu/grumpyoldaccountants/archives/89

Reconsideration of Repurchase Agreements

Reconsideration of Repurchase Agreements – In the wake of the recent financial crisis, accounting standard-setters presumably are working to reform accounting rules that exacerbated the banking collapse.  As this short article shows, however, the recent “repo fix” is not at all a cure, but a “fix” in the sense that corporate America has once again pressured accountants into a rule that corporations can use to misrepresent their financial condition.

http://blogs.smeal.psu.edu/grumpyoldaccountants/archives/87