There is currently a belief that financial risk is easily measured. That we can stick some sort of risk-meter into the financial system and get an precise measurement of the risk of complex financial instruments. The poorly misguided belief that this risk-meter exists plays a key role in getting the financial system into the messContinue reading “Financial Risk and Flying Pigs”
Since my experience with start-ups began a few years back, I have seen many examples of top-down forecasting that has left many venture capitalists wondering if the speaker had any credibility whatsoever. Top-down forecasting is taking the market level from it’s highest point and working down to come up with your sales figures.
This Wednesday, the SEC will finally let us know a date for US Companies to be allowed to start using IFRS as their reporting standards. It’s essentially going to be a roadmap that the SEC commissioners will consider, and then of course open it up to the public and watch the fireworks begin.
The U.S. Senate is proposing two bills to get a stronghold on the abuse of offshore tax havens. For those of you not sure of what this is, an offshore account is a bank account located outside the country of residence of the account holder, and typically in a low tax jurisdiction that provides financialContinue reading “Think your offshore tax haven is protected? Think again…”
That sounds like sweet music to my ears! Of course, the SEC has yet to suggest a date by which U.S. companies have to adopt IFRS rules, and the thought of such a massive switch is the current topic of discussion at some of the hard partying accounting functions in the country (think fraternity kegContinue reading “Accountants Celebrate! No New Accounting Rules for 3 Years?!”
As the opening bell was rung by Don Montanaro on May 8th, the creator of Fixed Return Options (FROs), he was hoping to see a new era of trading by bringing in a more simple way of option trading. FROs, simply put, pays out in either an all or nothing structure that alleviates the painsContinue reading “The Simplicity of FROs (and we’re not talking about the 70’s style hair-do)”
“The nation should have a tax system that looks like someone designed it on purpose.” ~William Simon Why are people so afraid of the subject of tax? Everyone has to pay them, some how or another. It doesn’t help AT ALL to plead ignorance. I’ve been noticing an upward trend the last few yearsContinue reading “Taxaphobia – The Fear of Taxes”
It must be human nature, but people always look for shortcuts, especially when it comes to government standards and ethical boundaries. I do contribute this a great deal to performance. The sales person trying to get that last sale in before the deadline, money that is hidden for taxing or transfer purposes, contracts not followingContinue reading “Time Wasted vs. Ethical Decision Making”
Ok I did grow up with Income Taxes all around me, but I don’t think that makes me biased when I have a sore spot for simple income tax errors that result in tremendous problems. There is one simple rule when dealing with the government: DO NOT MAKE MISTAKES! They are very hard to correct,Continue reading “Silly Income Tax Errors”
Not too many accountants realize that there are a number of methods written and established to change the way your company looks on paper. Revenue recognition is a simple way to have your company look vastly different in the eyes of an outsider. The basic rule is that there are either cash or accrual accountingContinue reading “The Importance of How You See Your Revenue”