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Interesting take on California’s economic woes. Be back later with more articles of interest. Sorry for the setback in terms of posting. Expect more quality tax research soon!
Thanks.
While a majority of the media in the US continue to stay focused on the vociferous public discourse taking place over the future of capitalism, it is noteworthy to point out the rule which states that once a private company in the US has more than 499 shareholders, the Securities and Exchange Commission [SEC] requires [...]
OECD Secretary General, Angel Gurria, discusses 21st Century Multilateralism and Global Governance
Founded in 1948 to help administer the Marshall Plan for the reconstruction of Europe after World War Two, the OECD has morphed into a global organization whose primary goal is to promote democracy and market economies. Lately, the OECD has been involved in the [...]
@29:55, Stanford professor, Darrell Duffie, explains how clearinghouses may exacerbate the problem of CDS.
For example, AIG derivatives were “exotic”, i.e., not easily marketable.
Section 764(a) of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Securities and Exchange Commission [SEC] to issue rules to provide for the registration of security-based swap [...]
Announced on July 1, 2009, the FASB accounting standards codification is the organization of authoritative, non-governmental US generally-accepted accounting principles
Measuring the fair value of an equity interest in an acquired entity has become more complex not only in terms of the presentation of financial statements, but also combined interests have profound tax consequences which one must also take into consideration. Accounting consolidation rules have expanded to include Financial Interpretation 46, or FIN 46 for [...]
FATCA, or the Foreign Account Tax Compliance Act, was enacted in 2010 as part of the HIRE Act. FATCA requires that US taxpayers holding financial assets outside the US are required to report those assets to the Internal Revenue Service. FATCA also requires foreign financial institutions to report directly to the IRS information about accounts [...]
In conjunction with the Clarity Project, in 2010, the Accounting Standards Board [ASB] issued reporting standards for supplementary information that is presented with financial statements. Statements on Auditing Standards [SAS] numbers 118, 119, and 120 were issued by the senior technical body of the AICPA in advance of the December 2012 effective date. They deal [...]
Letting Uncle Miltie explain the current debt “crises”…
Money is created by an accounting entry.
Steve Harding, CFO of privately-held, commercial real estate investment and development firm, Transwestern, gives an overview of the debate over the presentation of leases under FAS 13.
Though the debate rages on as to the recognition of a capital or financing lease on the balance sheet, one must bear in mind that accounting rules continue [...]
