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Entries tagged "accounting"PCAOB's Olson to leaveMark W. Olson, the head of the Public Company Accounting Oversight Board, is leaving a year before his term is set to expire. Companies paying more for auditsA survey of independent audit fees showed that companies saw a slight increase in 2008 compared with the previous year. J.P. Morgan turns lemons into $29B in lemonadeThe bank is poised to book $29 billion in income on the toxic assets it bought from Washington Mutual. Morgan Stanley's big earnings missThe bank reports a loss of 57 cents, far worse that the 9 cents loss that analysts predicted. Treasury investigates OTS chiefScott M. Polakoff , the acting head of the Office of Thrift Supervision, was put on leave pending an investigation by the Treasury Department's inspector general over accounting issues. Video: Germack on accounting practicesIn this episode of Inside The Deal, RateFinancial's Victor Germack speaks about why accounting rules need to be overhauled in order to fix the financial markets. FASB may change mark-to-market rulesMore tweaks could be coming to the controversial accounting standard mark to market, which some have blamed for massive bank write-downs. GM could have trouble hitting bailout targetsWhile General Motors Corp. and the rest of the industry try to focus on sales at this week's Detroit Auto Show, the main topic on most minds is whether GM and crosstown rival Chrysler LLC can get their houses in order and not be forced to surrender federal bailout funds granted late last year. And as a new report shows, the companies have a challenge ahead of them. ... Cox: Accounting can't be bent to fit the nuances of crisisThe controversial mark-to-market accounting rule looks like it is here to stay. Even as the economy slides and there is an effort afoot to lay part of the blame for the financial meltdown on, of all things, an accounting standard, the Securities and Exchange Commission is unlikely to suspend the rule, The Wall Street Journal reported Monday. ... Accountants to Cox: Keep politics out of accountingAs the Securities and Exchange Commission prepares for yet another roundtable discussion on fair value or mark-to-market accounting, Robert Denham, chairman of the Financial Accounting Foundation, is urging SEC Chairman Christopher Cox (pictured) to reject any attempt to suspend the accounting rule. ... ABA not satisfied with FASB clarificationThe American Bankers Association, a Washington-based lobbying group, wants the Securities and Exchange Commission to override U.S. accounting rulemakers' new guidance on mark-to-market accounting, saying it still relies too heavily on distressed asset values. ... FASB clarifies mark-to-marketThe Financial Accounting Standards Board issued a clarification late Friday of its fair value or "mark-to-market" accounting rules that gives guidance to financial firms on how to value illiquid assets in distressed markets. The FASB ruling builds on a statement it released with the Securities and Exchange Commission on Sept. 30, with examples of how companies should use their best judgment to value assets that have no active market.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "accounting." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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