“I believe the votes are there whether I like it or not.”
~ Barney Frank, on the House provision that would exempt small and midsized businesses from complying with Section 404.
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A Meaningless Win for Free Enterprise Fund and Beckstead and Watts
“Beckstead and Watts, LLP, and the Free Enterprise won, but there is no prize for them.”
~ Professor David Albrecht (guest posting at JDA), pointing out that despite a victory, the petitioners basically get jack squat.
This Fall, It’s Do or Die for Accounting Rule Convergence
“If we can’t get converged (on financial instruments), it would suggest the convergence effort is going to be challenged and questioned on a significant basis.”
~ FASB member Tom Linsmeier levels with everyone on the FASB’s big test in the convergence process this fall.
No, You Can’t Deduct a Harley as a Medical Expense
“A client injured his wrists, so the doctor told him to keep his wrists elevated. […]