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This Blog Has Moved 4 Feb 2013 | 01:49 pm
THE ACCOUNTING ONION HAS MOVED! FOR THE LATEST POSTS, PLEASE VISIT http://accountingonion.com After having just written a post on HP’s massive write-off of goodwill, I am reluctant to keep ...
Caterpillar: Another Sad Example of Bad Goodwill Accounting 4 Feb 2013 | 01:49 pm
After having just written a post on HP’s massive write-off of goodwill, I am reluctant to keep on banging the drum of how bad goodwill accounting can be. But, I can’t resist following up on Bloomberg ...
HP's Autonomy Debacle: Mistakes were Made -- and Capitalized? 23 Jan 2013 | 12:40 pm
Companies overpay to acquire other companies all the time; but Hewlett Packard Co. just might be the new record holder for getting fleeced. I don't have the exact amount, but let's say that the goodwi...
HP's Autonomy Debacle: Mistakes were Capitalized? 23 Jan 2013 | 12:40 pm
Companies overpay to acquire other companies all the time; but Hewlett Packard Co. just might be the new record holder for getting fleeced. I don't have the exact amount, but let's say that the goodwi...
The Death and Transfiguration of "Substance Over Form" in U.S. GAAP 18 Jan 2013 | 12:14 pm
Over the years, the notion of accounting for "substance over form" has been trumpeted in IFRS circles as the apotheosis of principles-based accounting. From a practical standpoint, something like it i...
Why Nothing Sticks to Auditors when Loans Go Bad 14 Jan 2013 | 10:47 am
I read numerous news sources this week echoing the SEC's announcement that it finally has a case it thinks it can win against auditors stemming from the 2008 financial crisis. One journalist, Jon Weil...
FASB Pretends It Never Voted to Mark Loans to Market 2 Jan 2013 | 11:42 am
I will have a lot to say about the FASB's recent publication of its proposed revisions to the accounting for loans over the next few months. In particular, I'm going to vivisect the horrendous "basis ...
"Double Entry": A Tale of Two Books 19 Dec 2012 | 10:42 am
If you are looking to buy a holiday present for an accountant, then you should consider Double Entry: How the Merchants of Venice Created Modern Finance. It's a pretty fast read – both for its moderat...
Autonomy: Investors are Entitled to Know what HP's Management Knows -- by New Year's Eve 3 Dec 2012 | 08:11 am
Hewlett Packard Co. claims they were 'misled' (to put it mildly) by accounting 'misstatements' (to put it mildly) into overpaying, on the order of $8 billion, to acquire Autonomy. But, if anybody outs...
Off-Topic (But In-Season): Accountants for Peace and Prosperity 27 Nov 2012 | 11:24 am
The author of this post is Annie Schedrin of the London-based organization Accounting for International Development (AfID). It seems like they do good work where it is much needed. I am always hopeful...
