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Corporate Finance

Selected Works

2011

Accounting

Articles 1 - 2 of 2

Full-Text Articles in Business

Comprehensive Income Reporting: Fasb Decides Location Matters, Dennis Chambers Sep 2011

Comprehensive Income Reporting: Fasb Decides Location Matters, Dennis Chambers

Dennis J. Chambers

The article reports on Accounting Standards Update (ASU) 2011-05 issued by the Financial Accounting Services Board (FASB) in June 2011. It states that the standard requires all companies to report comprehensive income and components either in one continuous statement or in two separate, but consecutive, net income and other comprehensive income statements.In both cases, companies must reportedly now report in an income statement-type location for total comprehensive income.


Chinese Reverse Mergers, Accounting Regimes, And The Rule Of Law In China, Benjamin A. Templin Jan 2011

Chinese Reverse Mergers, Accounting Regimes, And The Rule Of Law In China, Benjamin A. Templin

Benjamin A. Templin

In 2010, federal regulators and politicians became increasingly concerned over the accounting practices of Chinese companies that trade on U.S. stock exchanges. In particular, the Securities and Exchange Commission (“SEC”) targeted companies that went public through a process called the reverse merger. The instances of fraud became so widespread, regulators and commentators coined the term Chinese Reverse Merger (“CRM”) in order to describe a sector where investors assume the risk of accounting irregularities. Although CRMs must comply with international accounting standards, a weak rule of law in China has resulted in poor implementation and enforcement of its accounting regime. U.S. …