Breathing Easier After Bank Stress Tests? You Shouldn’t
- May 13, 2009
Largely unnoticed in last week's government report on the condition of the nation's biggest banks was the disclosure that five of them, topped by Bank of America, could lose $99 billion from the kinds of exotic bets that sank the global economy.
Bank Lending Terms Keep Squeeze on Consumers
- May 5, 2009
Banks tightened lending standards further in the three months to April, adding to the credit squeeze on households and businesses, the Federal Reserve’s senior loan officers survey said on Monday.
Using fringe benefits as an income substitute during the economic downturn
- May 1, 2009
Many businesses are foregoing salary increases this year because of the economic downturn. How does a business find and retain employees, as well as keep up morale, in the face of this reality? The combined use of fringe benefits and the tax law can help. Some attractive fringe benefits may be provided tax-free to employees and at little cost to employers
The Next Accounting Controversy
- May 1, 2009
Standard-setters have moved on from fixing fair-value rules and have set their sights on off-balance-sheet accounting and loan-loss provisioning. Revisions to how companies account for off-balance-sheet items and loan-loss provisions will knock fair-value accounting off the front page with respect to financial reporting, according to James Kroeker, acting chief accountant at Securities and Exchange Commission.
AICPA’s 1Q 2009 Economic Outlook Survey
- April 7, 2009
Each quarter the AICPA posts the results of the AICPA/UNC Kenan-Flagler Business and Industry Economic Outlook Survey. The survey was conducted of AICPA Business and Industry members between January 28, 2009 and February 12, 2009 and had 1,183 respondents. Most of the respondents are CFO's and controllers from privately owned companies.
60 Minutes Interview With Bob Bernanke
- March 16, 2009
See Bernanke's first TV interview about the financial crisis on 60 minutes.
PBS Frontline “Inside The Meltdown”
- March 12, 2009
If you didn’t get a chance to see this on TV when it orginally aired you can watch it online. The...
Accounting for Loan Losses-GAAP vs. RAP…Not Again!
- March 9, 2009
This issue is a lot like the Rocky movies. Just when you think it's over they make another movie! Last week U.S. Comptroller of the Currency, John Dugan said that the accounting rules need to be changed to allow banks to reserve for future losses in the loan portfolio so that earnings would be less volatile. Didn't we just spend the last 14 years hashing out this issue and finally eliminating any differences?
Bair Acknowledges Strong Banker Reaction to Special Assessment
- March 3, 2009
Oklahoma Bankers Association President and CEO Roger Beverage joined a conference call yesterday with FDIC Chairman Sheila Bair and expressed the views of Oklahoma bankers regarding the FDIC proposed special assessment. Here is an article the OBA published on March 2, 2009: