Sometimes when I’m looking for inspiration for a blog post I’ll scan the news sites for mentions of accounting, in the hopes that there’ll be some new development I can write about. Unfortunately, in accounting, new developments aren’t frequent and usually are pretty boring. It’s the nature of the beast. So when I found thisContinue reading “Accounting change results in magic surplus for Ontario government”
Category Archives: Accounting
Improving cash flow through better payables management
There are several ways in which a business can improve their cash flow situation by optimizing their payables management. Mostly this relates to timing issues – when to pay your suppliers. Pay invoices on or close to the due date. Supplier terms are typically the only source of interest-free credit your business is going toContinue reading “Improving cash flow through better payables management”
First options backdating investigation initiated by SEC
Brocade Communications Systems has become the first company to be formally investigated by the SEC regarding the recent options backdating issue. According to the SEC’s complaint document, which names three former executives of the company as plaintiffs, from 2000 through 2004 the company inflated net income by understating their options-related expense through fraudulent schemes toContinue reading “First options backdating investigation initiated by SEC”
Depicting Waste Management fraud to enhance understanding
Dan Meyer’s blog, Tick Marks, has directed me to an interesting section of The Focal Point’s website, highlighting the work it did in helping the prosecution of the fraud case of the former head of Waste Management, James Koenig. The Focal Point is a company that makes “all forms of courtroom presentations more persuasive byContinue reading “Depicting Waste Management fraud to enhance understanding”
FASB’s new man talks advanced accounting topics
The accounting standards setting group in the United States is known as the Financial Accounting Standards Board (FASB) and consists of seven board members who are appointed to five year terms. The most recent appointment was Thomas J. Linsmeier, and CFO.com has a pretty good interview with him on some of the issues currently facingContinue reading “FASB’s new man talks advanced accounting topics”