Because the GASB’s proposals ignore government's contingent liability to pay plan benefits should assets fall short, they omit the full value of plan liabilities and contradict the GASB's own standard of "interperiod equity."

On Wednesday 8, 2012, the House Committee on Ways and Means held a testimony on "The Interaction of Tax and Financial Accounting on Tax Reform." Here, Aparna Mathur contributes to their discussion.  

Predictable future variation in returns does not reflect priced risk factors, but is related to trading costs.

An extended analysis of Auerbach and Hassett's 2005 study, "The 2003 Dividend Tax Cuts and the Value of the Firm."

What are the effects of dividend taxation?

Using fair-market valuation, Nevada PERS’ unfunded liabilities would rise from about $10 billion to almost $41 billion. Shifting PERS to a defined-contribution, 401(k)-type structure would ensure that benefit obligations are fully funded going forward and that everyone is clear regarding the pensions promises the government has made and its ability to fulfill them.

Many public workers are overpaid relative to their private sector counterparts, especially in large, unionized states such as Wisconsin, Ohio and California. This may sound like a controversial claim, but it shouldn't. A consensus is building about the need for reform.

Requiring companies to expense options in the absence of any satisfactory method to evaluate their costs would be inconsistent with the principles and objectives of accounting.