Why Historical Cost Accounting Is Broken (And What Could Fix It)
What if the very foundation of accounting is broken? In my latest Earmark Podcast episode, I explore this thought-provoking question with Tom Selling, an expert on SEC compliance, GAAP, IFRS, and more.
Distorted Images: How Accounting Rules Allow Banks to Hide the True State of Their Finances
The accounting treatment of mortgage-backed securities (MBS) on bank balance sheets can distort the true financial health of banks and mislead investors. The current practice of classifying MBS as "hold-to-maturity" investments enables banks to manage earnings and hide their financial position. Therefore, the Financial Accounting Standards Board (FASB) should prioritize transparency and accountability by reevaluating this practice, which can promote a more stable financial system.
Pilots Blame Accountants for Southwest Airlines Meltdown
Who is to blame for the Southwest Airlines meltdown? The pilots are blaming the accountants! Not the accountants in the finance department, though.
New Survey Finds Accounting Teams Embrace Technology to Solve Hiring Challenges
Accountants are again taking a leadership role in their organizations with the adoption of cloud applications. According to FloQast’s new survey of accounting and finance professionals, 85 percent of respondents are facing increased challenges in hiring and retaining talent, and technology adoption is a key strategy in attracting and retaining talent.