Clay Tokens – UAFRS vs AR Monthly Highlights | December 21, 2021
In our most recent issue, we highlighted how M&A accounting violates the matching principle and misrepresents economic reality by consistently underreporting the profitability of an acquired company. This causes multiperiod distortionsin the acquiring firm’s income statement.
Clay Tokens – UAFRS vs AR Monthly Highlights | September 30, 2021
When I teach advanced accounting to up-and-coming future accountants, I have to tell the students to just memorize GAAP rules and do what the standards tell them to do.
Clay Tokens – UAFRS vs AR Monthly Highlights | July 31, 2021
Professor Baruch Lev is one of the foremost academic experts when it comes to analyzing the impact of deficiencies in corporate financial reporting.
Clay Tokens – UAFRS vs AR Monthly Highlights | June 30, 2021
This month, we turn to another all-time great value investor the co-founder of legendary hedge fund Baupost Group, Seth Klarman—for his take on financial reporting deficiencies in general and the focus of this month’s report… inflation or more accurately, currency devaluation
Clay Tokens – UAFRS vs AR Monthly Highlights | May 31, 2021
When Warren Buffett talks, his comments are worth listening to. And if you were not already aware, Buffett has said a great deal about problematic accounting standards.
Clay Tokens – UAFRS vs AR Monthly Highlights | April 30, 2021
I recently had a wonderful conversation with Ralph Nach. Ralph is a former co-author of the Wiley GAAP Guide. He teaches continuing professional education courses for practicing CPAs on many of the most difficult and complex accounting topics. Ralph was also one of the very first members of the UAFRS Advisory Council for Uniform Accounting.
Clay Tokens – UAFRS vs As-Reported Monthly Highlights | March 31, 2021
Whitman built impressive investment results over decades. While he accomplished this feat, Whitman also found time to call out the problems with as-reported financial statements under GAAP.
Valens Research – UAFRS vs As-Reported Monthly Highlights | February 28, 2021
No industry is free from the inconsistent rules of GAAP accounting that create extensive distortions from economic reality. In this issue, we highlight a chemicals company, a payroll servicer, and a diversified industrial conglomerate. Everything from net earnings to total assets is calculated in ways that seem almost arbitrary under Generally Accepted Accounting Principles.
Valens Research – UAFRS vs As-Reported Monthly Highlights | January 31, 2021
Stock-based compensation (SBC) is an accounting headache. Just last year, PwC published a 250+ page report to help its clients navigate its intricacies.