http://blogs.law.harvard.edu/corpgov/2007/11/28/gaap-in-peril/ Sponsored by the HLS Corporate Governance Program Sat, 30 Aug 2008 07:36:08 +0000 http://wordpress.org/?v=2.5.1 http://blogs.law.harvard.edu/corpgov/2007/11/28/gaap-in-peril/#comment-15324 Martin Gelter Mon, 14 Jan 2008 10:03:23 +0000 http://blogs.law.harvard.edu/corpgov/2007/11/28/gaap-in-peril/#comment-15324 Irrespective of whether GAAP are better than IFRS or not, the use of the famous Daimler-Benz example is totally misplaced in this debate and undermines the article's credibility. Daimler-Benz of course was not using IAS (later rechristened IFRS) in 1993, but the accounting provisions of the German Commercial Code (HGB). IAS/IFRS are much closer in their theoretical basis, standard setting process, purpose, style and content to US GAAP than to traditional Continental European accounting. Irrespective of whether GAAP are better than IFRS or not, the use of the famous Daimler-Benz example is totally misplaced in this debate and undermines the article’s credibility. Daimler-Benz of course was not using IAS (later rechristened IFRS) in 1993, but the accounting provisions of the German Commercial Code (HGB). IAS/IFRS are much closer in their theoretical basis, standard setting process, purpose, style and content to US GAAP than to traditional Continental European accounting.

]]> http://blogs.law.harvard.edu/corpgov/2007/11/28/gaap-in-peril/#comment-12004 Accounting Software Overview Sat, 15 Dec 2007 16:49:15 +0000 http://blogs.law.harvard.edu/corpgov/2007/11/28/gaap-in-peril/#comment-12004 Is this a case of "if you throw enough money at something it'll happen"? Goes without saying though that less accountibility is definitely not a good thing. Good Luck. Is this a case of “if you throw enough money at something it’ll happen”? Goes without saying though that less accountibility is definitely not a good thing. Good Luck.

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