Category Archives: Accounting Standards

Is Detroit Really Rising?

I was perusing a recent article over at the Atlantic’s City edition entitled “How Detroit Is Rising,” noting the glowing opinions of various community groups in the city about their prospects. I found Detroit’s June 2011 audit from their website … Continue reading

Posted in Accounting Standards, Economics, Government Failure, Municipal Debt, Unfunded liabiltiies | Leave a comment

The “Magic” Greek Financials

From the BBC: “The Greek railway had more employees than passengers. A former minister, Stefanos Manos, had said publicly at the time that it would be cheaper to send everyone by taxi.”  

Posted in Accounting Standards, Federal Debt, Government Failure | Leave a comment

State Pension Funding Levels – What it Means for Citizens

One of the problems with the presentation of detailed financial information is that no matter how important the data is, its relevance becomes obscured by the method of presentation. I recently discovered Fusion Charts, and present information related to state … Continue reading

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News Breaks: Apples are in fact not Oranges

The BBC runs an article noting that the US Treasury, as of July 27, 2011, possesses less cash than Apple. The Treasury’s financial statement ended that date is available on their website, with an ending cash total of $73,768M. The … Continue reading

Posted in Accounting Standards, Federal Debt, Government Failure | 1 Comment

FASB GAAP vs. GASB GAAP (in the news, even!)

Rarely does accounting treatment make headlines, but Emil Henry’s “America’s Debt Ceiling Opportunity” provides some interesting commentary on a topic that hasn’t received much public attention during the current debt ceiling maelstrom.  The article advocates FASB GAAP be applied to … Continue reading

Posted in Accounting Standards, Government Failure, Unfunded liabiltiies | Tagged | 1 Comment