GLG News by Financial Statement Analysts - Leaders, Scholars, and Educators

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Gold - The enigma - Accounting - Fair Value - Where Are We Headed

May 12, 2010

Analysis of:Gold Prices Extend Climb | online.wsj.com

The CDO crisis followed by the mortgage meltdown and now the Greek enigma are having a cascading effect on the price of gold. This in turn means that greater investible resources are flowing into the yellow metal - some in paper securities backed by gold and increasingly into the yellow metal itself. In this analysis I take a look at how this may impact fair value and its possible reflection on corporate earnings.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Complex Financial Instruments - Ambac Assurance Corp - Accounting Conundrums

April 28, 2010

Analysis of:Are Surplus Notes Disguised Equity | www.cfo.com

The referred article speaks of the case of Ambac Assurance and its issuance of debt which it says may be equity and thereby change the character of its EBITDA. In this analysis I look at how complex financial instruments are unhealthy for the company, mislead investors and may also create accounting problems.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Greek crisis - the Euro and its effects on accounting instruments

April 9, 2010

Analysis of:Revival hopes beat soverign debt fears | www.ft.com

The Greek crisis is having its effects on the value of  Greek sovereign debt  and  the same may spread. The economic crisis which started some time back on the back of  the exposure to CDO's and derivative instruments is continuing to impact financial instruments due to sovereign defaults - real or perceived - Greece - Iceland. In this analysis I take a look at this problem in the context of the Balance Sheet, the Income Statement and the Cash Flow Statement.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Gold, Cash Flows and Accounting

March 25, 2010

Analysis of:The Shortest Distance to Cash | www.cfo.com

Gold  has always been a store of value and in the last 18 months its  market value has increased by over 20%. In this analysis I take a look at how this impacts treasury management, accounting and overall financial management. I also take a look at how this impacts the fair value of  derivatives based on gold.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Goodwill Impairment - Accounting in a Business Downturn

March 12, 2010

Analysis of:Goodwill Impairment: Open to Interpretation, Again | www.cfo.com

In a  time of economic upheaval and business downturn, intangible assets lose value and  artificially inflated value is put to a real test. Conversely, in a boom period goodwill can be easily created in the books. Just think of  the Dot Com era when share values just kept going up. In this analysis I look at some of the problems effecting goodwill valuation.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Indian Economic Policy - Effects on International Business in India

February 27, 2010

Analysis of:Govt. To Earn Rs 40,000 Cr From Excise Hike, Petro Duties | economictimes.indiatimes.com

The Budget has been along the expected lines as I stated in my analysis on Last Minute Budget Expectations. In this analysis I  analyze how the changes in tax laws will impact international companies doing business in India.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Indian Economic Policy - Last Minute Budget Expectations

February 25, 2010

Analysis of:Dear Mr Mukherjee - Show Us You Can Do It | online.wsj.com

In this analysis which I  write just around 12 hours before the presentation of the 2010 Indian  Union Budget  I give my  expectations of  what I expect in some key areas.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Indian Economic Policy - The 2010 Budget - Don't Expect Any Major Tax Changes

February 19, 2010

Analysis of:India Budget May Roll Back Tax Breaks | online.wsj.com

The referred article speaks of  an expected increase in tax rates in indirect taxes - service tax and excise duty. My take on the same is somewhat different. In the analysis below I give my opinion of where i think the budget is going to head.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Regulatory fumbles in the area of Finance - Systemic and Unsystemic Risk

February 15, 2010

Analysis of:US Senators oppose 'systemic risk' curbs | www.ft.com

The measurement of  risk is a subject of intense debate in financial academia and literature. The subject has also befuddled financial gurus ever since I can remember. The politicians attempt to set up a body to oversee and measure financial risk for individual securities is in my opinion doomed as it only attempts to do a job which rating agencies can do better. In this analysis I look at why rating agencies need to be regulated rather than direct measurement of systemic risk by a regulator.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Banking Regulation and Accounting - Effects on Accounting Estimates

February 8, 2010

Analysis of:Bankers, Government Officials Discuss Regulation in Davos | online.wsj.com

Bankers are getting the brunt of the blame for economic ills of  the global  economy. This  is  after  the  accountants  were first given the blame for accounting rules which showed that  there were losses  when bankers and economists claimed otherwise. In this analysis I  look  at  how this is going  to effect  accounting estimates especially in  the  backdrop  of  convergence of accounting standards.

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