Windows 7 : Is It Right For You ?

Windows 7, the newest version of Microsoft’s desktop operating system, comes with numerous functional improvements over its widely used predecessors, Vista and XP. Some of these enhancements—such as more powerful hard drive search and data encryption capabilities—will save time and boost security; others, including 64-bit application support and Apple-like multifinger touch-screen technology for resizing windows, will enable you to do things you couldn’t do on a Windows PC until now.  Read more

The Auditor Disagrees With Overstock.com

When auditors and clients part ways, there is usually a dance in which they exchange letters that explain their actions, but do not question the veracity of the other side’s version. Not when the client is Overstock.com.  Read more

Business Models Matter (for Accounting, That Is)

Changes to the controversial rules surrounding the accounting treatment of financial instruments — rules that were skewered during several rancorous debates among politicians, bankers, and accounting experts during the past year — are one step closer to being finalized.

On Thursday the International Accounting Standards Board issued IFRS 9, a revised set of rules dealing with the classification and measurement of financial assets, such as loans, as well as debt and equity securities. Similar rules related to financial liabilities will be addressed separately. Read more

IASB Issues Asset Measurement Standard

The International Accounting Standards Board has published a new standard on classifying and measuring financial assets to determine whether an asset should be measured at amortized cost or fair value.

The new standard is the first part of a three-part effort to replace IAS 39, “Financial Instruments: Recognition and Measurement,” with a new International Financial Reporting Standard, known as IFRS 9, “Financial Instruments.”  Read more