GLG News by IFRS Accounting Specialists

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Accounting - The Congruence - The Stumbles - A Look At Accounting Standards Development

April 23, 2009

Analysis of:CFO's on IFRS: Forget About It | www.cfo.com

The present economic downturn has now got pundits and others saying that Accounting Standards are going to stumble - their will be no congruence on convergence of accounting standards. I would compare the present debate to that which took place when efforts were being made to salvage the gold standard in the first half of the last century. Then the intent was to keep the gold standard intact - it failed. The effort today is to keep national accounting standards in compartments - deny the concept of fair value - and  generally keep accounting so complex that it is as difficult to understand as all the languages of the world - spoken simultaneously. In this analysis I look at why the development of accounting standards is going to continue and not going to be effected by the unnecessary arguments being floated in this context.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Hedge Fund Conundrum - Gold - Risk vs. Safety and Return

March 19, 2009

Analysis of:Hedge Funds Turn To Gold | www.ft.com

Hedge funds are in a quandary. Their sine qua non for existence is the noticeably high returns that are expected to consistently deliver compared to the rest of the market. This obviously means that their investments have a higher beta compared to the market. These same funds are now trying to shift to bullion where gold is considered a safe investment. The problem here is however that anything that is safe will obviously give stable but not extraordinary returns. We can therefore expect a dichotomy in the aims of hedge funds which will reflect on their performance. These are the aspects I attempt to analyze below.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Investments, Hedge Funds and the Future Outlook

March 16, 2009

Analysis of:Hedge Funds to Cut 20,000 Jobs in 2009 | economictimes.indiatimes.com

The hedge fund outlook is changing fast and the glory of the past is giving way to the gloom of the present. In an era of disappearing jobs and declining economies the money available for hedge investments is on a downswing. In this emerging situation I look at where this new trend may lead to.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Accounting Jugglery With Foreign Exchange Losses and Hedges

March 10, 2009

Analysis of:Cos Grapple With Forward Contract Losses | epaper.timesofindia.com

Foreign exchange accounting and accounting for hedges have always been major problem areas. These also give immense scope for manipulation of corporate results. The spot vs. forward contract vs. hedge accounting syndrome are complex and can give rise to misleading and inaccurate results if not properly applied. In this analysis I take a look at IAS 39, Indian AS 30 and SFAS 133 as amended and how these are impacting corporate results in the present scenario.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Gold Hedging - Derivatives Valuation - The Coming Problem Areas

March 9, 2009

Analysis of:Gold Rises Ahead of Vital US Employment Data | www.ft.com

The referred article draws attention to the expected increase in the price of commodities like gold which act as a safe haven in troubled times. In this analysis I look at the effects this perceived demand and the price spiral will have on the valuation of derivatives based on these commodities and some of the problems which can be expected in the realm of valuation of derivatives including embedded derivatives and other aspects of the equation.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Second Great Depression - Accounting - Finance - Economics - A Personal View

March 9, 2009

Analysis of:Blue Chip Stocks, Economic Metrics Headed for Ground Zero | economictimes.indiatimes.com

The second great depression is on. It is effecting accounting, finance, economics and the way of life in every way possible. The paper investments are losing favor and commodities - especially gold and silver - are in favor. In this analysis I look at where accounting may head and the sea change we can expect in the way Institutions of economics - especially those involved with the distribution of wealth and the growth of economies are administered and viewed.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Upcoming Changes in Bank Ownership and Possible Effects on Accounting Statements

February 27, 2009

Analysis of:Government Offers Details of Bank Stress Test | www.nytimes.com

The Obama administration is proposing major changes in the manner in which banks are financed. The proposals would probably end up with the Government getting a major controlling interest in several financial institutions. Add to that the fact that several banks are declaring losses and you could expect major changes in the way in which the banks present financial information. In this analysis I look at some of these effects.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Changing Nature of Tax Havens and The Flow of International Capital

February 27, 2009

Analysis of:Tax havens under pressure | www.economist.com

Tax havens are becoming less secretive. The UBS deal, the Lichenstein deal and other changes in OECD and American rules are all having their effects. The Stanford scandal will invariably have its effect on Antigua and other island havens. All this will have its effect on the international flow of capital and tax policy at a global level. These are the aspects I look at in this analysis.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Banking Regulations, Mortgages, Recession and Accounting Imbroglios

February 20, 2009

Analysis of:Bank Stress Test May Expand Regulators Role | www.nytimes.com

Banking regulations are in for a change and so are the manner in which mortgages are financed. The recession is also going to effect the manner in which accounting and financial controls are related. Also the latest Stanford scam is going to have its effect on the deployment of bank funds.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Bailout Scenario, Executive Pay and Declining Productivity

February 6, 2009

Analysis of:US Plans to Curb Executive Pay for Bailout Recipients | www.nytimes.com

We are today in a situation where socialist practices are making their way into capitalist economies. The restriction on executive pay is only one such instance. The players in the market themselves are to blame for this situation which is not very healthy for capital development and economic growth. All this is coming in the context of the TARP and TARP2 (yet to be finalized) programmes. In this analysis I take a look at how this will impact productivity and have adverse effects on financial management and the growth of capital markets and growth.

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