I'm an accountant....and I'm sorry (Update #3)
Okay, last post then I get off this hobby horse.
The American Spectator has five articles on "Mark to Market Watch" that explain the impact of this issue.
You can find them here, here, here, here and here. If you read nothing else, see part 3 here on "Rules Have Consequences."
They are short, very clear and show just what a negative difference has been made by this accounting rule.
But they also show what the positive results that can be obtained IF this atrocity is soon removed.
But I don't think it'll be soon enough.
Update (12/16/08)
The reason why I'm so pessimistic? Check out this article in the WSJ: FASB Studies Expanding 'Mark' Rules. Expand!! Hell, in gambling that would be called doubling down. When did accountants become so into gambling? (Okay, now I'm off this hobby horse.)
The American Spectator has five articles on "Mark to Market Watch" that explain the impact of this issue.
You can find them here, here, here, here and here. If you read nothing else, see part 3 here on "Rules Have Consequences."
They are short, very clear and show just what a negative difference has been made by this accounting rule.
But they also show what the positive results that can be obtained IF this atrocity is soon removed.
But I don't think it'll be soon enough.
Update (12/16/08)
The reason why I'm so pessimistic? Check out this article in the WSJ: FASB Studies Expanding 'Mark' Rules. Expand!! Hell, in gambling that would be called doubling down. When did accountants become so into gambling? (Okay, now I'm off this hobby horse.)
posted by RightinFlorida | 5:19 PM
1 Comments:
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