Reverse Merger & SPAC Blog- Feldman Joining Richardson & Patel!
- See You at the Rodman Conference
- Another Unfortunate Barron’s Article on China
- PCAOB to Auditors of Chinese Companies - Get to China!
- Tip of the Week: Reporting or Not?
- New Small Offering Exemption Subject of Petition
- Back from R&R…&B
- Good Second Quarter for Reverse Mergers
- Dodd-Frank VII: Big Picture Thoughts
- Dodd-Frank Part VI: Exec Comp Changes
- SEC.gov Updates: News Digest
Author Archives: The Webmaster
Forex Gain/Loss and You – Part 2
Our last post demonstrated how forex gain/loss is created. Now we turn to GAAP’s confusing guidance on what to do with forex gain/loss. The Wiley GAAP Codification Edition says: Making the sale is the result of an operating decision, while … Continue reading
Posted in Accounting How-to, Forex Gain/Loss, GAAP
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Direct Offering Costs
ASC 720-15-15-4(m) lists “Costs of Raising Capital” as excluded from the ASC 720 “Start-up Costs” topic. But what is the GAAP authority for netting “direct offering costs” against the proceeds that a company raises from selling stock rather than reporting … Continue reading
Posted in Accounting How-to, GAAP, Going Public
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Forex Gain/Loss and You – Part 1
Recording foreign currency exchange gains and losses (“forex gain/loss”) seems mysterious to many. The treatment prescribed by GAAP seems even more mysterious. Money issued by different countries can be exchanged at a bank. But it would be easier to understand … Continue reading
Posted in Accounting How-to, Forex Gain/Loss, GAAP
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SEC Upholds PCAOB Sanction of CPA
Auditors sanctioned by the PCAOB may appeal their sanction to the Securities and Exchange Commission. Today, the SEC decided the first such sanction – and upheld the PCAOB. As a result, Florida auditor James Gately has been banned for life … Continue reading
Posted in Government
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Big 4 Partner Settles SEC Complaint for > $1,000,000
Auditors must remain “Independent” from companies they audit – it’s both common sense and it’s the law. One of those independence rules is that members of an audit team cannot own shares of stock in companies that they audit. Today, … Continue reading
Posted in Business Environment
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