By Ron Baker: Paul Miller and Paul Bahnson are at it again in their regular article series “The Spirit of Accounting,” in Accounting Today. I wrote here about their recent article on GAAP deficiencies, and in the Sept 8-21, 2008 issue, they have another excellent article, “The perils of clinging to the status quo—Part 1.”
The May 2008 issue of The Journal of Accountancy included some commentary by Paul Miller. In response, a CPA emailed him and defended the status quo against “the ravages of value-based accounting practices,” stating that “When we increase subjectivity, we decrease value [of the financial statements].”
Read complete post The Status-Quo CPA
Source: VeraSage, 7 September 2008. 2008 © Verasage Institute. All rights reserved.
