GAAP

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.

New Survey Finds Accounting Teams Embrace Technology to Solve Hiring Challenges

New Survey Finds Accounting Teams Embrace Technology to Solve Hiring Challenges

Accountants are again taking a leadership role in their organizations with the adoption of cloud applications. According to FloQast’s new survey of accounting and finance professionals, 85 percent of respondents are facing increased challenges in hiring and retaining talent, and technology adoption is a key strategy in attracting and retaining talent.