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Tag: FASB

Operating Leases Going Away?

The FASB (Financial Accounting Standards Board) and the IASB (International Accounting Standards Board) are recommending that the use of operating leases be scrapped. In addition, they are recommending that you treat all leases as capital leases. For over 40 years, FAS 13 has been the standard. But this step will change all that. Operating Leases

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When Crisis Breeds Future Crises

One can’t help but watch the actions of the Federal Reserve, Treasury Department, the FASB, the Congress, etc…and wonder what new crises for which we are being set up. In the near term greater inflation and higher interest rates seem likely. But in the long run are we not simply setting ourselves up for a

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FASB Eases Mark-To-Market

Today the Financial Accounting Standards Board (FASB) changed FAS 157, providing companies more flexibility in determining the fair value of their investments held. In addition, the FASB also granted companies more flexibility in taking impairment charges on investment losses. The changes will take effect in Q2, though companies will be free to report Q1 under

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FASB Change to FAS 157 at odds with Geithner’s Plan

This week the FASB is considering relaxing the mark-to-market accounting rule, which would seem to undercut the US Treasury Department’s plan to help banks fix their balance sheets by ridding themselves of the so-called “toxic assets.” FASB Change to FAS 157 As a taxpayer, I’d have to say that I prefer the FASB’s approach to

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Mark to Market Controversy vs The Laws of Finance

A large part of the mark to market controversy revolves around the fact that mark to market accounting is in direct violation of a fundamental law of finance. Mark to Market Controversy vs The Laws of Finance It has long been accepted that when financing assets you should match the term of the debt with

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