Significant Changes Ahead for Business Combinations - Understanding FASB No. 141 (R) – FASB's new standard (No. 141) is intended to simplify the accounting for business mergers and acquisitions on the international stage. Announced in 2007, they became effective for fiscal years beginning after Dec. 15, 2008. The new standard makes significant changes to current practices and will have a substantial impact on accounting and reporting for business combinations. Most notably, it is a major shift from an accumulated cost basis to fair value, with many implications. More >

Fair Value Accounting: Mark to What Market? – In recent months, the world financial market crash has drawn comparisons to the Great Depression of the 1930s. Trillions of dollars in market capitalization have vanished. Just one year ago the Dow was at an all-time high even in the midst of the first signs of the subprime asset meltdown. To the non-business community, the catch-phrase “sub-prime” is thrown out in passing to pass blame on this current financial crisis.  However, to fully understand the ripple effect that has transpired requires a little more investigation. More >

Next Issue – An overview of the shift away from GAAP to International Financial Reporting Standards (IFRS) and what they will mean for U.S. companies, both publicly traded and private.

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