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Jeffrey Fan

Random Musings of an Amateur Data Scientist

GAAP

Foggy Accounting by Banks…Again

April 19, 2012May 11, 2012 Jeffaccounting, banks, earnings, GAAP, reportingLeave a comment

Re Article: http://dealbook.nytimes.com/2012/04/19/the-fog-of-bank-accounting-adjustments/

Once again, financials (BAC, MS, C) are playing games with how they are revealing their earnings. There really needs to be stricter rules regarding not only what information firms have to disclose, but how they must disclose it.

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