Accounting & Financial Analysis News by GLG Council Members

Anthony CatanachDirectorDI2 Associates, LLC

More Under Armour Red Flags...

November 20, 2009

Analysis of:Stock Jocks Punish Under Armour's Mathletes | www.cnbc.com

Under Armour's most recent 10K contains a number of financial reporting "red flags" that reflect a cavalier attitude toward financial reporting transparency.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Fair Value Debate - The Political Imperative - A Exercise in Futility?

November 19, 2009

Analysis of:Accounting Rules:Divided and Overruled | www.economist.com

Fair value has been in the news for sometime. Also banks are now complaining and so are regulators and politicians. The convergence issue and the impact of a far off standard setter not subject to local influence is having its effects on the debate. In this analysis I look at why fair value should not be influenced by those not well conversant with the subject. While I agree that accountants alone should not influence the debate yet the undue influence of politicians should be avoided.

Anthony CatanachDirectorDI2 Associates, LLC

What the Former SEC Chairmen Missed...

November 19, 2009

Analysis of:Don't Let Banks Hide Bad Assets | online.wsj.com

Conceptually, the arguments favoring fair value accounting are sound and quite appealing. Unquestionably, financial statement users will benefit from data about how a company’s assets and liabilities change in value during a reporting period. However, there are two major issues associated with fair value reporting that accountants, investors, legislators, and regulators need to address in the wake of our most recent financial crisis.

Anthony CatanachDirectorDI2 Associates, LLC

What Have the Accountants Done For Us Lately?

November 19, 2009

Analysis of:Systemic risk legislation threatens FASB’s independence | www.accountingweb.com

Debates about the causes of the recent financial crisis have yet to focus on the inability of financial institution independent auditors to provide adequate oversight over management’s valuations of financial instruments.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Economic Downturn and Revival - Challenges for Accountants and Auditors

November 12, 2009

Analysis of:Failed financial firms:The bust that worked | www.economist.com

The referred article speaks of  the bankruptcy reorganization plan of  one Institution. In this analysis I  take the referred Institution as a  referral point to examine/highlight the challenges which accountants and auditors will face in their stewardship and  attest function.

Thomas KleinManaging MemberKleinCPA PLLC

Obama Expected to Sign Generous NOL Carryback Bill on Friday

November 5, 2009

Analysis of:Congress Passes Unemployment Bill With Tax Items | www.journalofaccountancy.com

On Thursday, Congress sent a bill to the White House containing enhanced net operating loss (NOL) carryback opportunities for most companies. The bill contains a provision extending the NOL carryback period from two years to five years for losses incurred in 2008 or 2009. President Obama is expected to sign the bill on Friday which would result in the immediate filing for refunds by many companies.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Accounting and The Gold Price - Fair Value - Valuation Problems to be Expected

November 4, 2009

Analysis of:Gold Price Tops $1090 for First Time | economictimes.indiatimes.com

As the price of gold rises on a week on week basis  one can expect to see ramifications in the accounting arena. There are a number of  investment products sold in the market which are linked to the price of  gold and its physical holding. In this analysis I look at the nature of  problems to be expected  - especially in relation to fair value disclosures.

Truth or consequences

October 31, 2009

Analysis by: GLG Expert Contributor

Analysis of:Obama Taking Hands-Off Stance on Citi, AIG Pay | www.bloomberg.com

By setting up Kenneth Feinberg as the bad guy, the Obama administration can claim that it is taking a hands-off stance with respect to executive pay.  Nothing can be further from the truth.  Mr Feinberg derives his authority from the same government that claims to be taking a hand-off approach. This is not to say that the federal government should not have a "say on pay" for banks and automakers that have been bailed out with taxpayer funds, many of whom would not be in business otherwise.

Should the government intervene in corporate executive compensation?

October 30, 2009

Analysis by: GLG Expert Contributor

Analysis of:Obama Taking Hands-Off Stance on Citi, AIG Pay | www.bloomberg.com

Obama’s administration should not have to micro-manage the financial institution, such as AIG, Citi, which received tarp money. However, the administration is correct in letting Kenneth Feinberg, U.S. Treasury Department, handle this issue concerning misappropriation of funds. The government should have given tarp money with strict restrictions on use of funds: (i) increase cash reserves level, (ii) reduce debt, and (iii) spend on capital investments.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Working Capital - Internal Audit and Control - Accounting Standards

October 30, 2009

Analysis of:A Crash Course in Working Capital | www.cfo.com

The referred Article speaks of  the importance of working capital, internal audit and  proper financial statement and how these interact to provide a proper business growth environment. In my analysis below I give my thoughts on these aspects.

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