Since the mid 90s there has been debate within accounting circles on whether there should be two versions of GAAP – one for public companies and one for private companies. Big GAAP and little GAAP. The logic is that there are sections of GAAP that do not apply to non publicly accountable entities, and time [...]

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According to this recent post on JobsintheMoney’s CareerWire blog, hedge funds are looking for accountants and paying top dollar for them: The Rothstein Kass report, The Compensation Conundrum, makes clear that even for non-investment professionals, hedge funds pay better than both Wall Street and corporate America. For instance, senior accountants at surveyed firms earned $71,000 [...]

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The Globe and Mail, a Canadian daily, has a feature on their website today where three tax experts from Couzin Taylor LLP and Ernst & Young LLP answer questions from readers about the interest deductibility “feature” of the Federal government’s budget. I’ve blogged about this complicated topic a couple of times now but never really [...]

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I wrote a post about BCE converting from a corporation to an income trust a couple days ago that set off a veritable firestorm of comments from a few readers. It quickly became the most commented on post here, which is pretty cool. So with that in mind I jumped at the chance to blog [...]

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No, Google isn’t managing investments. They’re still devoted to “organizing the world’s information,” but that doesn’t matter to the SEC. A rule enacted in 1940 could cause increased regulatory headaches for the company. Companies whose securities make up more than 40 percent of their assets can fall under restrictions that govern the mutual fund industry. [...]

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