Slow Going for Principles-based Accounting
''Reasonable judgment should have resulted in the same conclusion,'' says one observer about a new FASB staff position, ''without the need for still another rule.''
Refco CEO Charged with Securities Fraud
Questionable transactions date back to 1998, the same year that then-CFO Phillip Bennett was named chief executive.
Moderating Health Costs Still Troubling
The increase in health-care costs is projected to stay in the single digits next year for companies, but not for their employees.
Prosecutors Challenge Legal Defense Fees
One observer maintains that in the eyes of the government, "a good way to roll the defendant is to prevent them from even raising a defense."
SEC Names Chief Litigation Counsel
Luis Mejia has been involved with several major investigations at the commission, including Enron and AOL Time Warner.
FASB and the Liability-Equity Split
Instruments that have characteristics of both liability and equity have long been a thorny issue for the board. Separately, the PCAOB outlined next year's proposed standard-setting activities.
Delphi Enters Bankruptcy with New CFO
A restructuring may require General Motors to assume as much as $11 billion in retirement benefits for union-covered employees who transferred to Delphi as part of its 1999 spin-off.
R&D Spending Doesn’t Spell Profit
A new study finds no discernable link between research-and-development spending and nearly all measures of business success, including growth, profitability, and shareholder return.
Latest Microsoft Antitrust Deal: $761M
Even so, a European Commission spokesman calls the settlement "completely irrelevant" to the commission's continuing antitrust case.
Exxon Mobil Settles Pollution Case
The proposed agreement will cost oil giant nearly $600 million; most will be spent on pollution-reduction equipment on seven U.S. refineries.
Off the Books
The SEC's ''scandal scorecard'' during the tenure of departing chief accountant Donald Nicolaisen.