FASB

Distorted Images: How Accounting Rules Allow Banks to Hide the True State of Their Finances

Distorted Images: How Accounting Rules Allow Banks to Hide the True State of Their Finances

The accounting treatment of mortgage-backed securities (MBS) on bank balance sheets can distort the true financial health of banks and mislead investors. The current practice of classifying MBS as "hold-to-maturity" investments enables banks to manage earnings and hide their financial position. Therefore, the Financial Accounting Standards Board (FASB) should prioritize transparency and accountability by reevaluating this practice, which can promote a more stable financial system.

5 Things I Learned This Week

5 Things I Learned This Week

Intuit makes ChronoBooks exclusive to QuickBooks Online Advanced, accountants are losing faith in FASB, the California Consumer Privacy Act is already a disaster, how to build a financial model for an accounting firm, and the Buffet Indicator says we’re doomed.