notices - See details
Notices
RI
Retail Investor (not verified)
15th May 2015 | 5:23pm

Yes, yes, yes.
Unfortunately it seems that the accountants listen to the analyst's community when making rule changes. And those resulting rules most often make things worse.

Beats me why the reconciliations in every company's audit papers are not mandated footnotes.
Eg. Opening goodwill, plus purchased, less written off, +- FXrevalue = Closing goodwill.
Eg. Opening book value plus EPS plus Other comprehensive income, less dividends paid, plus premium (at market value) from net new share issues = Closing book value. (all per share values).
Eg. Open net tax liabilities, plus tax expense current year, less taxes paid = Closing net tax liability. (all the BS line items together)