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Opinions and views from expert CFOZone members.

Tag >> balance sheets
Aug 25
2010

Banks' asset values should be marked down by 20 percent: report

Posted by Ron F in financial crisisfinanacial reportingFASBfair valuecompliancebalance sheetsamortizationAccounting

Ron F

Jack Ciesielski has a new report out that puts banks' arguments against fair value squarely in their place. And the analysis alone should make short shrift of the industry's complaints, though it no doubt will do nothing of the sort.

The accounting expert and investment adviser who runs The Analyst's Accounting Observer finds that banks account for 96 percent of all the asset markdowns to the balance sheets of the S&P 500 that he estimates would result from enactment of the Financial Accounting Standard Board's latest proposal.

Jul 09
2010

Banks perform somersault in anti-fair value campaign

Posted by Going Concern in GAAPfinanacial reportingFASBfair valuecomplianceBanksbank lendingbalance sheetsAccounting

Going Concern

Submitted by Caleb Newquist, republished from Going Concern, Accounting News for Accountants and CFOs.

Banks hate the FASB. This is understood. They're especially bent out of shape these days because the Board recently put out its latest fair value proposal that requires them to carry their loans at fair value. Bob Herz knew that this was going to cause hella-belly aching although he may not have predicted the virtual assault that was coming.

Mar 25
2010

Hey, SEC: What about Lehman?

Posted by Ron F in Securities and Exchange CommissionRegulationLehman Brothersfraudfinancial crisisfinanacial reportingcomplianceBanksbanking industrybalance sheetsAccounting

Ron F

The Securities and Exchange Commission has finally gotten around to naming a new chief accountant for its enforcement decision. But it makes me wonder about the commission's priorities.

Howard Scheck joins the SEC from Deloitte and earlier served as a branch chief in the enforcement division for 10 years.

Mar 20
2010

Another call to ban naked swaps

Posted by Ron F in RiskRegulationLehman BrothersFederal ReserveEnronderivativesdebtcredit-default swapcomplianceBanksBankingbank failuresbalance sheets

Ron F

We've been harping on the need to curb the use of credit default swaps for speculative purposes for some time. And after Congress briefly entertained the idea of banning naked swaps, those, that is, where neither the buyer or seller owns the debt of the reference entity and thus has an insurable interest in it, the idea is enjoying something of a comeback.

Not that we had anything to do with that. Instead, that was Goldman Sachs' doing, since the interest rate swaps the firm sold Greece to hide much of it debt has led to a huge amount of speculation through naked credit default swaps against that debt, and made it more difficult for the country to raise fresh capital to stem its financial crisis, thereby endangering the European Union.

Jan 20
2010

Investors ready for capex even if you aren’t

Posted by MQuinn in investorsdebtCashcapital expendituresbalance sheets

MQuinn

Apparently, investors think corporate balance sheets look fine and that it's time for some capital expenditures.

According to a Bank of America Merrill Lynch survey of more than 200 fund managers, for the first time since mid 2006, capital investment heads the list of investor priorities -- ahead of reducing debt and returning cash to shareholders.

Four out of ten respondents to the survey released Tuesday said capital spending is what they most want to see corporates use their cash for. Balance sheet improvement, which has been investors' top priority for the past year and a half, is now in second place.

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