People Who Don’t Get the Intangible Shift

Thanks to Presto Agitato here for pointing to the CATO Institute briefing paper here called, “FASB: Making Financial Statements Mysterious.”

The paper, by T.J. Rodgers, CEO, of Cypress Semiconductor Corporation expresses extreme frustration with the current state of financial statements. I share his frustration but don’t agree at all with his conclusions.

Rodgers says that Sarbannes Oxley was supposed to make accounting more transparent and it hasn’t. I would counter that it was supposed to make accounting more reliable and it has. One of the great accomplishments of Sarbox Read more