I read the article in the WSJ and I thought the new reforms were actually well thought out and were fixing something fundamentally flawed with existing accounting with Public companies, especially.

By separating out profits that come from operations vs investments vs other stuff, I thought the new standards would expose a lot of fudging on the part of public companies. In any quarter where you may have a shortfall in profit, you can always sell your building on Rte 128 and make the profits anything you want, no?

About the accountants wantint to do something, you’re right. It will be interesting to see how accounting itself gets overhauled around the world!

Good Post!