January 17, 2019

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New Year’s Eve Was Kind of a Bummer for Hertz

Man, I hope executives at Hertz got shitfaced on New Year’s Eve, because being told the company has to pay a $16 million civil penalty to the Securities and Exchange Commission to settle a case involving numerous accounting violations is not a stellar way to end 2018/begin 2019. An SEC cease-and-desist order filed on Dec. […]

Sorry, Public Companies, the FASB Isn’t Giving You Any More Time to Get Your Shit Together on Lease Accounting

The chairman of the Financial Accounting Standards Board crushed any hopes public companies might have that the FASB would delay the Jan. 1, 2019, start date for its new lease accounting standard. At #AICPA conference, FASB Chairman Russ Golden is asked: Considering system challenges, new guidance, auditor concerns about #internalcontrols, will #FASB delay #leases standard? […]