If you’ve been reading this blog, you know I’m no IFRS cheerleader. My friends know this. The other day it came up in conversation, and the comment was quickly made [insert ironic tone] “Mike’s favorite topic.”
My big complaints about IFRS are:
It represents a significant weakening of US GAAP, leaving the door wide open for increased [...]
I got a nice email from a reader the other day asking me for my opinion of IFRS. I’ve blogged about it quite a bit, but rather than send him back to the blog to look at all the IFRS posts, I thought I’d summarize my thoughts for him.
If he was looking for a critique [...]
I was at a conference a couple of weeks ago and caught the IFRS presentation, which was very good. One of the point the presenter made was one I’d heard before from IFRS proponents.
Under today’s GAAP, if you had five different companies and they each did the same transaction, you’d end up with exactly [...]
When I was on the staff at KPMG there was a story about one of our big public clients getting ready to issue their quarterly financials that showed them missing their eps forecast by $.01. The client was very distraught over all this because they were afraid their stock would tank, and they let their [...]
IFRS for SMEs came out this week, and I just don’t see how this is a good public policy. We’ve seen what happens when lax underwriting practices allowed banks to make loans to homeowners who never should have been granted credit. It was win-win for a while: bankers and all the folks involved in the [...]
Congressman Ed Perlmutter represents Colorado’s 7th district, which is not my district, but close enough. He’s a member of the House Finance Committee and was quite visible during the MTM hearings. Personally, I thought he was guilty of a little grandstanding during the mtm hearings (I wouldn’t tell him that), but overall I think he’s smart [...]