Posts Tagged: fair value accounting

Financial Instrument Accounting

Posted by & filed under Accounting Principles, Advanced Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting.

On Wednesday, May 26, 2010, the FASB released an exposure draft for the purposes of improving accounting for financial instruments. The new rules, projected to take effect in 2013, incorporate both amortized cost and fair value information about financial instruments held for collection or payment of cash flows. Questions: 1. According to the article, how… Read more »

FASB Sued for Intellectual Property Infringement

Posted by & filed under Accounting Principles, All Articles, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting.

Joel Jameson, the founder of Silicon Economics, Inc. is suing the FASB.  He filed for a patent for his invention called “EarningsPower Accounting,” and claims that the FASB has infringed upon the patent.  Jameson claims that his invention is a patented method developed by the company to improve the accuracy, validity, and usefulness of financial… Read more »