Financial Reporting
FASB Statement no. 145 has made extraordinary items less common, but they have not disappeared entirely. The authors review which events qualify for extraordinary treatment under the more restrictive criteria.
Business Valuation
Intangible assets are an important part of business today, and many executives think innovation and related intangible assets now represent the principal basis for growth. While it is easy to argue that intangible assets are valuable, it is not so easy to accurately capture that value. This article describes some methods for doing so.
Software / Technology
The launch of Microsoft’s new operating system and Office applications, while providing more powerful tools for accountants, will take some getting used to.
Financial Reporting / Tax
Stock-option compensation may not hold the allure it once did. But it’s still common, especially among the same kind of visionary but cash-hungry companies as in the dot-com days—in other words, companies most likely to post a tax net operating loss (NOL). Enter FASB Statement no. 123(R). Fortunately, there’s no reason companies operating at a loss should also be at a loss for knowing how and when to recognize tax benefits associated with share-based compensation.
Fraud
Think you can spot corruption in any of its many forms? Take this (deceptively) simple test to find out just how much you know.