The Exxon Valdez Crashes into Fair Value Accounting
The Supreme Court's slap at the "stark unpredictability" of punitive damages in the oil tanker case highlights the challenge of making companies report future lawsuit liabilities to investors.
FASB Agenda Takes on Global Spin
The American accounting standards setter adjusts its plans in preparation for U.S. switch to international standards.
Regulators of the World Unite
The world's securities regulators — notably the SEC — take steps to increase their oversight of international accounting standards.
It’s Your Loss. (Maybe.) Now Explain It.
Companies will have to disclose more detail about potential future losses — notably from lawsuits — under a proposed new accounting rule.
Rating Agencies in Sights of New SEC?
In an otherwise routine vetting, three nominees to the short-handed Securities and Exchange Commission agreed with their Senate questioner that fixing credit rating agencies was a top priority.
Army in Iraq Is No Paymaster
Millions of dollars in Army payments made in Iraq and nearby countries, many in cash, have gone undocumented since 2001, says the Inspector General.
MBIA’s CFO: Taking on the WSJ
The latest in the fight over fair-value accounting has Chuck Chaplin questioning its relevance to his company — and firing back at a Wall Street Journal critique of an MBIA earnings release.
Why CFOs Hate Fair Value
Pass this primer around to employees, peers, and directors who don't grasp the pitfalls of mark-to-market accounting.
Bernanke: “Markets Are Still Far from Normal”
The Fed chairman defends recent moves to stabilize the markets and says any expectations of future government bailouts will be defused through stricter bank regulation.
FASB on Subprime: “We Warned You”
The chairman of the accounting standards board notes that his staff sent up a warning flare about subprime mortgages in 2005.
Cox on I-Banks: There Oughta Be a Law
The Securities and Exchange Commission chairman calls on Congress to pass laws to avoid the need to improvise in the middle of a liquidity crisis.