GLG News by Exploration & Production Financial Statement Analysts

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Impending Changing Capital Structure at Banks - Challanges for Accountants

September 7, 2009

Analysis of:G20 Calls for Better Capital Buffers at Banks | www.ft.com

The G20 meeting has agreed that banks need to be properly capitalized with equity instruments as compared to hybrid debt-equity. A number of other changes in the capitalization of banks is also proposed. This would mean that debt instruments with characteristics of equity would have a bleak future in the capital structure of banks. In this analysis I highlight some of  the issues involved in this conundrum.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Global Debt Situation - Fair Value - Financial Statements - Paradigms

September 6, 2009

Analysis of:US says debt Outlook Worsening | www.ft.com

The global economy is in a tailspin. Politicians and economists like us to believe otherwise amid  worsening job losses and a weakening US dollar. The graph of the USD vs. gold price shows the fall in value of the USD. This situation throws up questions for the auditor/CFO/accountant and others involved with financial statements. Analysts would  also need to evaluate the fair value of assets on financial statements in this evolving situation. In this analysis I look at some of  these questions.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Tax Fudges and Financial Reporting - The Paradigm - Accounting Standards Context

August 25, 2009

Analysis of:Closing the Havens | www.ft.com

Tax havens have represented security against political repression for long. They have also with the evolution of  tax laws become a pain for Governments. This is especially with the growth of acceptability of  the right of the State to levy taxes. The recent developments with Tax Haven authorities agreeing to divulge confidential information raises questions for the accounting profession. In  this analysis I look at issues that these developments raise for the accounting and auditing profession.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

CDS Regulation , Accounting and Economic Effects

August 16, 2009

Analysis of:Derivatives Plans Spark Doubts on CDS | www.ft.com

 CDS have created problems for some time now. The proposal to regulate CDS over the counter sales will in my opinion create more problems than it will solve. This is especially in the context of the triple regulation suggested - SEC, CFTC and a dispute regulatory mechanism for the turf between the two bodies. In this analysis I look at the accounting and economic problems that this will create.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Accounting Disclosures - FASB Moves - My Comments

July 29, 2009

Analysis of:FASB Initiates "Disclosure Framework" Project Aimed at More Useful, Organized and Consitent Disclosures | www.fasb.org

 The referred FASB news release speaks of a new FASB project to simplify accounting disclosures and make them more meaningful. In this analysis I look at the relevance of such a major project in the realm of accounting and how this could make financial statements more meaningful.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Serious Frauds and Internal Controls - A Look at Emerging Practices

July 23, 2009

Analysis of:Allegations of massive fraud in the gulf: A $10 billion Saudi Fraud Claim | www.economist.com

Surplus investment cash is always a problem. Loose internal controls and financial practices compound the problem. In the referred article there is an extensive discussion of  how a large and respected Saudi conglomerate defaulted on financial commitments on account of  frauds and lapses perpetrated ostensibly by a family member. In this analysis I look at why and how control practices are and will have to change in response to changing circumstances.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

A Season for Fraud - Possible Effect on Audit Quality and Audit Standards

July 15, 2009

Analysis of:Lawyer Sentenced to 20 Years in $700 Million Fraud | www.nytimes.com

As I read the referred article about a lawyer who was at the top of his profession being sentenced to 20 years for fraud and of other cases like Madoff et. all (including the cases over the last ten years) I  think this is the season for frauds. Major frauds are being announced and uncovered in innovative ways including in two major cases by public announcement (Madoff and Satyam). In this analysis I take a look at how this "season for fraud" is going to impact audit quality, audit standards and also forensic accounting.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Securities, Rating Agencies, Accounting, True Value and Fair Value - A Paradigm Look

July 14, 2009

Analysis of:SEC to Create Group to Check Rating Agencies | www.ft.com

The referred article speaks of the efforts of the SEC to monitor and police credit rating agencies. This is ofcourse a welcome proposal. However, it will also have an effect on accounting and the measurement of true value and fair value of securities. In this analysis I take a look at these aspects and how we can expect the rating business to change and also the manner in which values as associated with securities are measured.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Charles Darwin, Adam Smith, Accounting and Financial Rules

July 13, 2009

Analysis of:The Invisible Hand, Trumped by Darwin | www.nytimes.com

The referred article speaks of Adam Smith and Charles Darwin. While Smith spoke of the invisible hand, Darwin spoke of natural selection and survival of the fittest. The referred article is in terms of economics. I look at the same question from an accounting and financial emphasis.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Fair Value - The Continuing Debate - Why it Never Ends?

July 8, 2009

Analysis of:The Fair Value Deadbeat Debate Returns | www.cfo.com

The referred article speaks of fair value and its impact on credit rating. Fair value is related to a number of  instruments including derivatives, hedging and plain vanilla instruments. I was recently at a conference in Agra, India where the Chairman of the IASB Sir David Tweedy mentioned IAS 39 in passing and said that the IASB was still trying to get to grips with its intricacies. In this analysis I look at why fair value will continue to confuse but is essentially the light in the right direction for understanding corporate financial reports.

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