Friday, August 22, 2008

Tom Selling on FAS 140

Tom Selling has a good 11 August 2008 post at his Accounting Onion, about the FASB's machinations in the current SFAS 140 flap. is the link. In my experience the longer a SFAS is, the less economic sense it makes. Any SFAS over 10 pages long is suspect. SFAS 133 is especially notable, including interpretations, it's 809 pages long! What a joke. SFASs like 133 and 140 illustrate how politicized the world of accounting is.

No comments: