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The following is an open letter of encouragement to the Financial Accounting Standards Board.
June 15 -
To take a phrase commonly used in general aviation, "flying blind" is not a good thing. With storm clouds all around and visibility severely limited, qualified pilots have to rely on a combination of instrument flight rules and the air traffic control system to safely arrive at their destination. In many respects, estate planning is similar to flying, as the goal of estate planning is to transport your client from one point to another safely and securely without experiencing any major financial problems. Successfully accomplishing this goal requires a formal plan and proper decision-making by the client.
June 15 -
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The first budget agreement of the new Congress reflects not only its ability to at least reach agreement on a budget framework, but also the priorities of that new Congress and the new administration for tax legislation for the current year. Very little in the tax portion of the budget agreement comes as a surprise, except perhaps for the period of time that some of the proposals cover.
June 15 -
New standards effective at the beginning of 2009 will impact the accounting for mergers and acquisitions.
June 15 -
My academic career predates the "sky is falling" period that began in the fall of 2008. I find myself wondering how to reconcile the events in that short span of time to the common body of knowledge previously embraced. In particular, I am increasingly curious as to how those responsible for filing, auditing, exercising oversight and investing in today's market setting answer a small set of queries.
June 15 -
It's often said that it is an ill wind that doesn't blow somebody some good. While the recent downturn has indeed been an ill wind for all concerned, it does hold out the possibility that plan fiduciaries may learn valuable lessons.
June 15 -
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Strategy highlights service, enforcement, voluntary compliance
June 15