April 9, 2007


Comments

 
 
 
  • So this accounting rule change allows credit unions (any any other business) to hide losses. Did we learn anything from Enron!!!! Don''t adopt this new accounting procedure if all you want to do is to manipulate your earnings. Deplorable! This accounting rule change is so much more involved and has long-term consequences. Do your homework - check it out and think long-term.
    Anonymous
     
     
     
  • Timely, good job
    Anonymous
     
     
     
  • I agree with comment #1, this will allow any business/credit union to overstate earnings. Anyone looking to adopt this FASB 159, should think twice about the integrity of their company/credit union.
    Anonymous
     
     
     
  • this new fasb is being pushed by brokerage houses with $$ on the mind. They are trying to get people to early adopt so that they can generate bond trades. The AICPA is warning that some of the "ideas" that these brokerage firms are promoting will not be considered to be GAAP. You should be weary of those firms pushing adopting this statement for earnings enhancement reasons.
    Anonymous