Annotated Bibliography

Annotated Bibliography

Minter, F. (2002) Before We Write Off All the Accountants. Strategic Finance Vol. 83 Issue 9, p7-7, 1p,. Retrieved March17, 2012, from EBSCO database (Masterfile) on the World Wide Web: http://www.ebsco.com

Minter’s article brings awareness about blaming other CPAs and making radical changes because of what happened with the bankruptcy of Enron Corporation. He suggests that instead of pointing fingers and making drastic changes each party should be responsible of its appointed duties. For example, if there are accounting problems, the Financial Accounting Standards Board (FASB) can address them. If there are oversight problems, the U.S. Securities and Exchange Commission (SEC) can address them. We should be conscientious of innocent professionals, and not stereotype them because of the company they work for or firms they associate themselves with.

Frank Minter is a CPA and IMA Chairman. He has been a long term member of the Financial Reporting Conuniitee, making him a reliable source. He uses the roles of the FASB and SEC as support to his idea that radical changes are not needed. Instead each party should focus on their own purpose.

Livingston, P. (2002) Globalization and Its Impact. Finance Executive Vol. 18 Issue 9, p6-6, 1p. Retrieved March17, 2012, from EBSCO database (Masterfile) on the World Wide Web: http://www.ebsco.com

This article is about the role of the International Accounting Standards Board (IASB) in setting accounting standards in the United States. Corporate scandals such as the Enron Corporation and WorldCom have affected the reputation of the Financial Accounting Standard Board (FASB). The IASB and FASB will be joining forces to figure out the best accounting standards according to generally accepted accounting principles (GAAP). The IASP will be presenting proposals in regards to stock-options expensing, the LIFO accounting method, (the last in, first out) and the handling of extraordinary items....