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No laughing matter
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No laughing matter DEREK PARKER FINDS OUT ABOUT THE ROLE OF DODGY ACCOUNTING IN CORPORATE COLLAPSES Indecent Disclosure: Gilding the Corporate Lily By Frank Clarke and Graeme Dean Cambridge University Press, $59.95
There are 753,901 jokes about accountants, but this carefully argued book is no laughing matter. Clarke and Dean are both professors of accounting at respected universities, and their previous book, Corporate Collapse, had much to say about the ethical standards of modern bu...
Related newspaper, magazine, and journal articles from HighBeam Research
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Plain paper financial statements--do they meet the test?
The CPA Journal
; In September 1995, the AICPA Accounting and Review Services Committee (ARSC) issued an exposure draft entitled, Assembly of Financial Statements for Internal Use Only. This proposed Statement on Standards for Accounting and Review Services (SSARS) provides an exemption from the requirements of
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The federal government's first audited governmentwide financial statements
The Government Accountants Journal
; The federal government recently issued its first-ever audited financial statements. Considering the feds already require that type of accountability from both state and local governments and publicly owned companies, one might wonder whether this is a noteworthy event. The answer is yes-it has been
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What do users of private company financial statements want? Financial statements' primary purpose is to serve the needs of users. But there is a quandary as to who is a "user" and what users need, particularly for private companies. Financial Executives Research Foundation (FERF) examines these needs, from both the preparer and user perspectives.(private companies)
Financial Executive
; Most, if not all, would agree that perhaps the primary objective of financial reporting is serving the needs of users. Broadly speaking, users of financial statements can be categorized as internal and external. Internal users can include company management, owners or directors. External users can
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Financial statements are trying to do too much.
Financial Executive
; What is the purpose of general purpose financial statements? The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are undergoing a joint project on the Conceptual Framework, arguably the most important project on the boards' agendas. The
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Audit of the federal government's financial statements
The CPA Journal
; A Major Effort Produces a Disclaimer of Opinion The GAO issued a first ever report on the consolidated financial statements of the U.S. Government on March 31, 1998. It audited specific agencies and funds as well as the consolidation and made use of audit work performed by agency inspector generals
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Financial Audit: Restatements to the Department of State's Fiscal Year 2003 Financial Statements.
General Accounting Office Reports & Testimony
; GAO-05-814R September 20, 2005 The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and Congress. We are required to audit these
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Financial Audit: Restatements to the Nuclear Regulatory Commission's Fiscal Year 2003 Financial Statements.
General Accounting Office Reports & Testimony
; GAO-06-30R October 27, 2005 The Secretary of Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and Congress. We are required to audit these
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Financial Audit: Restatements to the Department of Agriculture's Fiscal Year 2003 Consolidated Financial Statements.
General Accounting Office Reports & Testimony
; GAO-06-254R January 25, 2006 The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and Congress. We are required to audit these
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Accounting across borders. (international comparability of financial statements)
Financial Executive
; International comparability of financial statements is the most important accounting issue facing businesses today. Setting broad standards that preserve country-specific rules and harmonize country-to-country differences would go a long way toward meeting this challenge. With the globalization of
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General Purpose Financial Statements
The CPA Journal
; 'Big GAAP Versus Little GAAP' Obscures the Issue FASB currently creates standards for "general purpose financial statements" for public companies, private businesses, and not-for-profit organizations. Much of the recurring concern about "Big GAAP and Little GAAP," or, as currently characterized by
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