Overwhelming evidence of failure, or: play it again Al…

Canadian Accountant recently published Overwhelming Evidence of IFRS Failure, an article by our old friend Al Rosen The article is classic Rosen, a sort of accounting-commentary equivalent of an aging rock star touring his greatest hits, wooing even skeptics with the implied promise that we might never get to hear them again (even as we…

Discount rates, or: would you take this at face value?

The IASB has issued a project summary on its research into discount rates Here’s how it summed things up: Some IFRS Standards require or allow companies to use different discount rates for estimating future cash flows. In some cases, the differences are clearly justified because they reflect different risk factors or circumstances. In other cases, the reasons…

Disclosures on Brexit, or: Bye-Bye Britain…

As I post this article, Brexit is less than three weeks away, although by the time you read this (even if you’re reading it fairly promptly) that may no longer be true, overtaken by a postponement, or by Britain choosing instead to sink into the sea… From my point of view, the only discernible virtue…

Exceptionally unreasonable, or: more issues in equity accounting

One hundred academics and non-academics recently met in Sydney, Australia, for the 2018 IASB Research Forum, to discuss some of the latest research into financial reporting matters. The Forum is organized annually by the IASB in collaboration with an academic journal to create a platform for presentations and discussions of new accounting research of relevance…

CPA Canada FORESIGHT: a possible future?

CPA Canada has recently been engaged in an initiative it terms “FORESIGHT” Here’s some of the accompanying narrative: Are You Ready to Imagine a Possible Future? CPA Canada introduces FORESIGHT, an initiative that brings CPAs and the broader business community together to discuss the industry’s most relevant issues, like obsolescence by automation, predicting future skillsets…