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Indeed, allowing banks to alter accounting standards when they run into trouble is incentive to take more risk and, in essence, institutionalizes fraud.
France, which currently holds the presidency of the European Union, suggested going much further — strengthening cross-border cooperation among regulators, unifying rules on bank deposit guarantees, altering accounting standards to no longer require banks to write-off losses immediately and possibly suspending government aid rules.
Who in his right mind would willingly admit to altering accounting diaries or approving golden parachutes fit for a West African dictator?
In its first quarterly report after altering accounting under pressure from the U.S. government, Xerox posted a surprising second-quarter profit of 19 cents per share, due to aggressive cost cuts.
Although the papers will not radically alter historical accounts of the abdication they certainly add colour and background detail.
This is a given, since you can't alter an account until you log in as that account.
Only about 10percentt of all the companies surveyed said they would alter their accounting assumptions to meet a quarterly target, and only about 20percentt said they would postpone making an accounting change to meet a target.
"Alter's account has a refreshing buoyancy," Ted Widmer wrote here, "not unlike its protagonist".
Companies already registered in Ireland are being given no less than six years to alter their accounting structures.
The push to alter options accounting comes after scandals at Enron and other companies involving inflated earnings that helped executives reap millions in stock option profits.
He disputed that the committee's decision could be seen as a setback for investors by taking pressure off the airlines to alter their accounting.
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