January 2, 2009

Which One When?

Source: CFO.com

roundup of key accounting deadlines, developments, and detours to watch for in 2009.

January 2, 2009

As mortgage rates slide, applications to refinance have gone through the roof

Source: Dallas Morning News

As mortgage rates slide, applications to refinance have gone through the roof

December 31, 2008

SEC rejects suspension of accounting rules

Source: The Associated Press

Federal regulators have officially rejected a banking industry push to suspend accounting rules that force banks to value assets on their balance sheets at current market prices even if they plan to hold them for years. The...

December 31, 2008

Spotlight falls on executive compensation in bailout climate

Source: Calgry Herald - CA

Excessive executive compensation is the latest corporate swamp. As the world sinks ever deeper into financial crisis, governments announce bailout packages almost daily and then amend them a few weeks later with new proposals.

December 30, 2008

SEC Revises Energy-Reserves Rules

Source: The Wall Street Journal

The Securities and Exchange Commission changed the way companies may disclose oil and natural-gas reserves in corporate financial reports, giving oil companies flexibility they had long sought.

December 30, 2008

SEC Modernizes Oil and Gas Company Reporting Requirements to Provide Investors With More Meaningful and Comprehensive Disclosure

Source: Securities and Exchange Commission

Washington, D.C. — The Securities and Exchange Commission has announced that it has unanimously approved revisions to modernize its oil and gas company reporting requirements to help investors evaluate the value of their...

December 30, 2008

Power Companies to Disclose Financial Risks of Climate Change

Source: Law.com

For years, environmental and shareholder activists have pushed companies that generate greenhouse gases to disclose how climate change could affect their financial outlook. Now, two operators of coal-burning power plants -- Xcel...

December 30, 2008

U.S. Agrees to a Stake in GMAC

Source: New York Times

The Treasury Department injected $5 billion into GMAC, the automobile financing company, as part of a deal announced Monday night that will let GMAC convert itself into a bank holding company to reduce its borrowing costs and...

December 29, 2008

FASB Pressured to Modify Fair Value Rules

Source: WEB CPA

Members of the Financial Accounting Standards Board came under pressure to relax fair value accounting rules when banking regulators would not change their capitalization requirements.

FASB decided to loosen rules that kept...

December 29, 2008

A big-picture view of automotive bailout’s impact

Source: Fort Worth Business Press

On Dec. 19, President Bush announced a plan to aid ailing auto giants General Motors and Chrysler Corp. The plan loans the companies $13.4 billion by mid-January, with funds coming from those that Congress had authorized to...