Financial Accounting Standards Research Initiative

I was just perusing a Moody’s report here on standard adjustments that they make. I was somewhat surprised that they reverse the impact of the changes in a company’s (well in the case of the report i’m reading, a BANK’s) own credit risk on current period gains or losses related to the FV of their own [...] Read more > >

Read through this, get exciting nuggets for your class! Read more > >

Hi everyone, Just last week, I signed up for another CPE session at AAA (recall that I previously posted about FASB/IASB update on Sunday and how you need to be there!!). Anyway, I thought I was going to be goofing off on Saturday afternoon in San Francisco but then my goof-off plans fell through. So i [...] Read more > >

On July 20, the FASB issued a new exposure draft of their proposed ASU concerning disclosures of litigation-related loss contingencies.  For anyone who may not have been following this issue over the past 2 years or so, the FASB first issued an exposure draft on June 5, 2008 which proposed enhanced disclosure regarding contingent losses stemming [...] Read more > >

I recently read a paper in The Accounting Review (Vol 85, No. 2) titled “Correcting for Cross-Sectional and Time-Series Dependence in Accounting Research” by Ian Gow, Gaizka Ormazabal, and Daniel Taylor. The paper deals with how to adjust for clustering across two dimensions (normally firm and year). After reading the paper I was was curious how [...] Read more > >

I’ve just finished reading the IASB/FASB exposure draft on revenue recognition, and I have all kinds of questions running through my head. But before I get to those questions, let me first say that I am very impressed with this document. In fewer than 90 paragraphs of guidance (ignoring application guidance), the IASB/FASB have laid [...] Read more > >

Thursday, July 15th there will be a PCAOB Standing Advisory Group (SAG) meeting. It will be broadcast live on the web and then available for podcast later on. From 10:15am – 12:15am ET there will be a presentation on “FASB/IASB projects and Potential Impact on Auditors.” This could be a good opportunity for researchers interested in [...] Read more > >

The Public Company Accounting Oversight Board (PCAOB) is looking for a PhD student who would like to intern with the Office of Research and Analysis (ORA) in the PCAOB’s Washington DC headquarters. This role will provide support to the quantitative economics group in ORA by assisting in studies and analyses conducted by the group.  This may [...] Read more > >