Fair Value – My Opinion

With all the talk about fair value accounting during the current credit crisis, I feel the need to make some clarifications about FAS 157 and fair value accounting.
Bob Hertz, the Chairman of the FASB, gave an excellent speech last week. You can read it at the following link: http://www.fasb.org/news/09-18-08/herz_speech.pdf  
Also, the SEC has provided some additional [...]

FASB issues new standards and proposes others

I am really far behind in my reading and I thought I would just give you a quick update on what is going on in the FASB realm.
Approved
FAS 161 – Derivative Disclosures
This is a new standard that is effective for fiscal years beginning after December 15, 2008. It requires tabular disclosures of derivatives by risk [...]

I don’t want to climb the corporate ladder

I have had several jobs in my career and the ones I disliked the most were supervisor positions. I do not like being responsible for others work, making sure it is correct or making sure they do the work or even show up for work. I do not want to cover for somebody else.
I like [...]

commission fees on margin accounts

I will be the first to ask a question.  When you have commission fees through your margin accounts, do you record the fees in a separate expense account or do you roll it into the gain or loss?
I can’t seem to find any guidance on this.
 

Welcome to the website to help you do your job.

I am a research accountant at a public company and I get very frustrated when I am searching the web and can’t find any information on how to account for something.  I can find high level information but nothing nuts and bolts.  This blog is to help people who need a little information on how [...]