FASB’s Fault?

It’s an interesting theory I could be inclined to believe. More troublesome is my impression when I learned in college about FASB and how it all works was that it’s an arm of the SEC in all but name, sometimes grabbing some wiggle room, but buying that room by largely doing whatever the government wants, before the government can impose the same rule more heavy handedly. Kind of like giving the nice man in the Italian suit your spare cash because you know he’s armed and usually humorless, rather than waiting for him to show that he’s armed and insist you go along. And if you don’t make him insist enough times, maybe he’ll go easy on you the time when you really can’t spare the cash. I don’t follow FASB at all closely, since losing any interest in being an accountant for a living, but it’s cool having a bit more insight into the process than your average person.

This entry was posted in Business, Economics. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *