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  1. Moody's sees $14.5bn FX fines for top banks

    Under both US Generally Accepted Accounting Principles (Gaap) and International Financial Reporting Standards (IFRS), companies are required to recognise loss contingencies when a loss is deemed 'probable' and the amount can be 'reasonably...

  2. SEC to focus on fair value in alternative mutual funds

    Under US Gaap, the entry price of a transaction cannot be presumed to be representative of fair value without further analysis, also at initial recognition. The SEC's emphasis on the exit price is consistent with the definition of fair value under...

  3. Determining fair value comes under attack

    Valuations need to be done real time for sub/red purposes, yet GAAP [generally accepted accounting priniciples] requires consideration of subsequent events,” Hanson concludes.In the current market there are several issues around valuations...

  4. Profession struggles with varying models

    Taking away a few differences, the ED substantively re-proposes the amendments under FAS 157-4 and is now in line with US generally accepted accounting principles (GAAP).The significance of this is relevant in the choice of method to determine...

  5. Tax concerns remain top of the agenda

    This has been brought to light by the recent introduction of FIN 48 into US GAAP [generally acceptable accounting principles] accounting and the exposure draft for IAS 12 under IFRS [International Financial Reporting Standards] accounting,” notes...

  6. Baidu's Profit Increases 91% in Third Quarter 2008

    Net income excluding share-based compensation expenses (non-GAAP) was RMB364.9 million (US$53.7 million), a 94.9% increase from the corresponding period in 2007. Basic and diluted EPS excluding share-based compensation expenses (non-GAAP) for the...

  7. Yahoo Q3 2008 Earnings: It Ain't Pretty

    Non-GAAP net income for the third quarter of 2008 was $123 million or $0.09 per diluted share compared to non-GAAP net income of $153 million or $0.11 per diluted share for the same period of 2007. Non-GAAP Financial Measures

  8. Yahoo Q2 2008 Disappoints Wall St.

    GAAP revenue was $1.8 billion, with operating cash flow on a normalized basis coming in at $449 million. Yahoo Second Quarter 2008 Financial Results Revenues were $1,798 million for the second quarter of 2008, a 6 percent increase compared to $1...

  9. Google Earnings Top $5.37 Billion in Revenue Q2 2008

    Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs, or TAC. Google revenues topped $5.37 billion for the quarter ended June 30, 2008, an increase of 39 percent compared to the second...

  10. How fair is fair value?

    Regardless, these standards are in effect and companies reporting under US GAAP are required to follow the new rules. Accounting It may seem ironic that, in a year when participants in the financial markets are having difficulty determining the...

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