Tag Archives: accounting

No Christmas celebration on this blog this year. But a story about communities: the Commons of Buren and Hollum on the Waddensea island of Ameland. Commons have been studied by Elenor Ostrom. Studying Commons is of prime importance: we only have one earth. Reading Ostrom makes one optimistic. One of the things she mentions is the age of commons. Often, they survived centuries. Commons, which invariably voluntarily set limits on the use of resources, are sustainable. The Ameland Commons...

Celsius Network was never a real business. It did not have a viable business model. Really, it was a momentum trading scheme that relied on the premise that crypto prices would always rise. And when they didn't, it resorted to fake valuations and market manipulation to escape insolvency. It was fraudulent from the start.  This is the conclusion I've reached after studying the U.S. Examiner's final report (yes, I've read all 476 pages of it) and Celsius's audited reports and accounts up to...

Coinbase recently filed its interim financial report. It makes pretty grim reading. A quarterly net loss of over $1bn, net cash drain of £4.6bn in 6 months, fair value losses of over 600k... To be sure, Coinbase is not on its knees yet. It still has $12bn of its own and customers' cash (both are on its balance sheet), and a whopping asset base. In fact its assets have increased - a lot. As have its liabilities. Coinbase's balance sheet is five times bigger than it was in December...

As the FT reported a couple of days ago when discussing corporation tax and corporate accountability: Now the Global Reporting Initiative, a not-for-profit setter of sustainability standards, is seeking to enhance transparency in this area. In a new standard it is calling for improved disclosure of corporate tax strategy, explanation of the reasons why the tax charge in financial accounts falls short of statutory headline tax rates, and country-by-country reporting of business activities,...

Important. Richard Murphy reports that the era of responsibility to shareholders rather than stakeholders is over. TPTB recognize that capitalism has to be "reset." It's not working as it is and the result is social unrest. Tax Research UKWho are accounts really for? – my first column now I am back with AccountingWEBRichard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge...

Socializing negative externality doesn't eliminate the actual cost. That needs to be accounted for.Tax Research UK It’s time for accountancy to put climate change at the core of financial reporting Richard Murphy

While doing business in Russia, you might have already learned the easy or the hard way that local accounting principles significantly differ from Western practices due to requirements of Russian law. Accounting is institutional and its rules are determined by institutional arrangements that are generally part of the legal structure in modern societies.This can make comparison of data difficult in different jurisdictions.AwaraSimple Tips That Will Help You Choose the Best Accounting Company...