William Albrecht (1919-2009)

With today’s post I honor my father.
William “Bill” Albrecht, 89, of Iowa City died Tuesday, March 17, 2009 at the Iowa City Health Care and Rehabilitation Center.  His death followed from a ten year illness.
Bill was born October 28, 1919, in Iowa City the son of James and Mamie (Sedivec) Albrecht. Following graduation from Iowa [...]

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FAOB

Bill would create body to oversee accounting standards
CPA Letter Daily | 03/09/2009
Lawmakers have introduced a bill that would create the Federal Accounting Oversight Board, a new entity.  The FAOB would not replace the Financial Accounting Standards Board; it would approve standards and decide how they are applied.
I’ve been reading about this all weekend.   I [...]

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More on the Free Flow of Capital and IFRS

Today’s essay is simply part of an unfinished work.  If one can discover what one thinks by writing about it (see Thinking on Paper, by V.A. Howard), then this is an early attempt by me to figure out what is going on in the world of IFRS.  Comments are welcomed, as I am attempting to [...]

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Global financial markets, regulation and accounting standards

What started off as an economic theory is having profound consequences in accounting and finance.
A while back, some French economists started writing about the need to create a global financial system. The hallmarks of this global financial system are (1) there should be a free flow of capital around the world to those who [...]

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FISH Inventory Method

The inanity of it all.
A hotly debated topic in accounting is the valuation of inventory for the current asset section of the balance sheet, and for the cost of goods sold expense line of the income statement.  The methods that surface during any discussion are:

Specific identification–permanently remember how much was paid for an item.  When [...]

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