Items Tagged with 'Generally Accepted Accounting Principles'

ARTICLES

  • ABA Raises Concerns on FASB, IASB Accountancy Changes

    Major accountancy changes and overhauls may take several years to implement across wide markets due to the complex nature of the instruments affected. Therefore, financial accounting boards in markets across the globe are taking the opportunity to begin revising rules in the midst of a lull in the securitization markets.
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  • Realogy Nets $1bn for Q209, But No Rebound Yet

    Realogy Corporation, a global provider of real estate and relocation services, reported a net revenue of $1bn for Q209. Its Realogy Franchise Group (RFG) includes the Century 21 and Coldwell Banker brands. It touts its NRT organization is the largest owner/operator of residential real estate brokerages in the US.
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  • $150bn of Assets May Return to BofA's Balance Sheet in 2010

    Bank of America [stock BAC][/stock] may soon bring some $150bn of off-balance-sheet assets back onto its balance in Q110 with the implementation of a new accounting rule, FAS 167, potentially pressuring its capital reserves. Of the assets the bank says it may bring to its balance sheet, home equity conduits account for an estimated $12bn, while card securitizations account for $85bn, and other variable interest entities make up the remaining $53bn, according to an equity research note by Keefe, Bruyette & Woods' (KBW) Jefferson Harralson.
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  • Advising Firms Tap into Increasing Volume of Distressed Assets

    In an economy where distressed real estate assets are piling up, Americans are looking for ways to recover from the downturn. Tapping into this need, Capstone Advisors expanded its real estate investment, advisory and development platform to include receivership and asset management services for distressed residential and commercial real estate.
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  • Levitt: Proposed Accounting Changes Will 'Obscure' Impairments

    Former Securities and Exchange Commission chairman Arthur Levitt fired a strong volley Thursday morning against the so-called mark-to-market lobby in a Washington Post op-ed, saying that proposed changes to key accounting rules governing the valuation of distressed assets would "obscure" and potentially "bury" the full extent of impairments on bad loans and ill-advised investments made by banks and other financial institutions.
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  • SEC: Mark-to-Market's Not the Problem

    The Securities and Exchange Commission, in a Congressionally-mandated and extremely long 211 page report released Tuesday, suggested that a controversial accounting standard has had little to do with the financial meltdown and does not need to be suspended. The debate over of the effect of FASB Statement of Financial Accounting Standards No. 157, Fair Value Measurements, which went into effect November 2007, has been one rarely afforded to any accounting standard.
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