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In the News: All Articles
  Below are articles, news clippings, and other media reports that include reference to Cash Flow Analytics or our executives.  
 
Scrutiny Seen for Skimpy Tax Disclosures01/28/12
While many companies report the existence of tax-planning strategies, only a few describe what they are.
Tax planning lacks detail in SEC disclosures01/11/12
A study has found that US taxpayers do not always explain in their statutory disclosures what tax planning strategies they plan to use to generate taxable income to allow them make use of deferred tax assets.
Free Cash Profiles: The Retailers01/06/12
When it comes to free cash generation in the retail industry, size matters.
Disclosures Would Help Tax Accounting, Study Says01/03/12
Companies carrying big deferred tax assets on their books typically rely on their tax planning strategies to determine whether those assets need a write-down - yet they disclose little about what those strategies entail.
Avon's Investments Fall Short12/08/11
Avon Products Inc.'s struggles around the world have tended to obscure a nagging problem: the door-to-door beauty retailer is nearly always short on spare cash.
Free Cash Profiles: The Apparel Industry12/02/11
With their whopping working capital and inventory needs, clothing companies depend heavily on their ability to borrow.
What a Switch from GAAP to IFRS May Mean for Investors11/28/11
International trade and cross-border investing is becoming more complex with new emerging market economies and global investment opportunities. The Securities and Exchange Commission, Federal Accounting Standards Board (FASB), and International Accounting Standards Board (IASB), are continuously seeking way to converge U.S. and international corporate financial reporting requirements.
Free Cash Profiles: The Transportation Industry11/18/11
Working capital burdens slow the middle market's ability to throw off cash as it grows.
Two IFRS Reports Set Stage for Next Round of Rule Making11/18/11
The SEC staff produced two reports meant to help the agency's leadership make the decision on IFRS that was outlined in Release No. 33-9109. The reports examine the extent of the differences between U.S. GAAP and IFRS and the degree of consistency in how IFRS is being applied by some large multinationals.
P&G spending More in Push for Consumers11/10/11
— In its quest to sell more household staples to consumers worldwide, Procter & Gamble Co. is spending increasing amounts of money on manufacturing and raw materials.
The Big Number: 18.211/09/11
American businesses have a growing amount of their capital tied up in inventories and accounts receivable, potentially making it harder for them to kick-start growth.
Firm Cut Borrowing Before Reports; Corzine Lobbied Against Trading Curbs11/04/11
For the past two years, MF Global Holdings Ltd. may have disguised its debt levels to investors by temporarily slashing the debt it was carrying before publicly reporting its finances each quarter, according to an analysis by The Wall Street Journal.
AIG Loss Casts Doubt on Benefit From $25 Billion Tax Asset11/04/11
Biggest quarterly loss since 2009 casts doubt on the bailed-out insurer’s ability to benefit from more than $25 billion in assets that can be used to lower future tax bills.
Less Cash for Shareholders May Be Good News10/25/11
Companies are increasing their spending on inventory and capital goods, which means they are generating less cash that can be returned to shareholders. But the shift in behavior may be an indicator that U.S. businesses are growing more bullish about the economy and willing to take risks.
Fears of Double-Dip Recession May Be "Overblown": Report10/10/11
With revenues surging, companies are investing in capex and revenue.
Free Cash Profiles: The Software Makers10/07/11
Among the biggest companies, Google lags way behind Microsoft and Oracle in terms of its ability to produce cash as it grows. But two smaller firms, Verisign and Advent Software, exceed the giants.
Free Cash Profiles: The Computer Hardware Industry09/07/11
The secret ingredient in a recipe for sustainable growth? Getting paid in advance.
Should Directors Ignore Those One-Time Items?09/06/11
Most companies don’t directly mislead shareholders. Yet a research analyst has found that more are masking earnings by burying one-time items in their financial statements.
European Banks Are Questioned About Accounting for Greek Debt08/31/11
The IASB recently told the European financial markets regulator that it was worried by the inconsistent application of fair value accounting by banks across Europe in writing down distressed sovereign debt, in particular Greek government bonds.
Why DSO Benchmarks and Benchmarking are Still Important08/24/11
With companies becoming ever more agressive in recognizing revenue, widening credit terms and selling globally, the calculation for determining when they get paid -- days sales outstanding (DSO) -- has never been more important. "Not a sign of strength."
Fannie Mae and Freddie Mac's fire sales dilute metro Detroit home values08/15/11
Fannie Mae and Freddie Mac are selling hundreds -- perhaps thousands -- of foreclosed properties in metro Detroit for far less than they appear to be worth, a practice that local leaders say is driving down property values and weakening neighborhoods.
Decades-old Auditor Ties under Scrutiny in U.S.08/03/11
Goldman Sachs has stuck with the same auditing firm since 1926, Coca Cola since 1921, General Electric since 1909 and Procter & Gamble since 1890. That's going back 85, 90, 102 and 121 years. Each has relied on a different one of what are known today as the Big Four accounting firms.
Capex, Inventory Spend Squeeze Cash: Study07/27/11
Companies are starting, in the smallest of ways, to increase their outlays on inventory and plant and equipment.
Cash Flow Decline May Be Good News for Economy07/24/11
Free cash flow has been dropping for more than a year at nonfinancial companies. The trend may a bad one for the near-term, but over the longer term, it may indicate a rebound in capital spending and a healthier economy.
AK Steel's Deferred Tax Assets07/14/11
The economic downturn left many balance sheets littered with deferred tax assets. But the weak recovery is threatening the value of those assets, making observers and regulators question if companies are being realistic when assessing their worth.
Rush to Defend Tax Rule on Inventory and Profits07/12/11
One of the biggest revenue-raisers proposed by President Obama in negotiations with Congress is what he describes as an arcane change in the tax treatment of business inventories — things like steel, groceries and oil.
AIG Joins Citigroup, GM in Deferred Tax Asset ‘Hall of Fame’07/08/11
American International Group Inc., Citigroup Inc. and General Motors Co., once the largest insurer, bank and automaker, hold a new distinction after losses forced them to take bailouts. The firms accumulated some of the biggest deferred tax assets that may lower obligations to the government that rescued them.
You Make Me Feel Like a Natural Hedge07/05/11
Companies are reporting an array of natural hedges for currency risk under the fair-value standard, according to a new study.
Amendments to Asset Transfer Guidance Give a New View on Bank Funding06/20/11
The asset transfer guidance in U.S. GAAP has long been a bone of contention. But it wasn't until a bankruptcy examiner looked at the accounting Lehman Brothers used for its short-term funding arrangements that the SEC and FASB were forced to examine just how financial companies were applying Topic 860. The FASB responded by issuing ASU No. 2011-03, which the board hopes will give investors a better look at the leverage banks and brokers have taken on.
The Dow at 115: Its Close Relationship to GDP05/26/11
Today is the Dow Jones Industrial Average's 115th birthday, and as we noted yesterday, the Dow's shifting components over more than a century tell the story of the American economy.
Revenue Growth May Not Tie Up Cash, After All05/23/11
The conventional wisdom which states that increasing revenues diminish free cash flow doesn't survive the glare of scrutiny - at least the scrutiny of Georgia Tech's financial analysis lab.
Government Prays a Bigger Sucker Is Out There05/18/11
Look through the footnotes in American International Group Inc. (AIG)’s latest annual report, and you will see a long section analyzing the company’s ability to use past losses to offset future income-tax obligations.
Does Growth Require Cash?05/18/11
A new metric gauges the amount of free cash flow companies can generate as they grow.
Big banks oppose derivatives accounting plan05/06/11
Wall Street's biggest banks are urging rule-makers to scrap a derivative accounting proposal that could inflate their balance sheets by trillions of dollars.
Accounting Board Tries to Close Lehman Loophole05/02/11
U.S. accounting rulemakers on Friday issued an update to accounting rules for repurchase agreements, attempting to close the loophole Lehman Brothers was accused of using to hide billions in debt before its collapse.
Secrets of the Bargain Basement05/01/11
Why do some companies hawk their assets at less than fair value?
Study Shows Little Disclosure on Bargain M&A Prices04/21/11
The concept of a “bargain purchase price” is a new twist emerging in financial statements where a company has struck a sweet deal in acquiring or merging with another business, but companies aren't doing a stellar job of explaining those deals.
Earnings Quality Check: JNJ, HOG01/24/11
Herb Greenberg on CNBC talking about JNJ and HOG earnings quality.
Great Expectations01/20/11
When Less Cash Is a Good Thing01/20/11
Registering a slight boost in capital expenditures, companies may be starting to display belief in an economic recovery.
Intel: Quality Check01/18/11
Television Broadcast
Goldman's accounting still hazy, investors say01/11/11
Goldman Sachs Group Inc is partially pulling back the curtain on a balance sheet some have criticized as opaque, but the change is unlikely to provide all the answers some investors want.
E&Y suit hinges on Lehman use of Repo 10512/22/10
New York state prosecutors’ lawsuit against Ernst & Young will turn on an accounting treatment Lehman Brothers used to shift debt off its balance sheet.
Software Expensing Grows, Study Finds12/16/10
Technology firms fear that carrying development costs on their balance sheets could diminish future earnings and threaten their share prices.
Fight for your right to LIFO: the oil industry and accounting12/10/10
The battle over last-in-first-out, or LIFO, accounting is heating up on Capitol Hill, but for some 36% of US companies using it, the accounting process has been used for decades to reflect the current health of a business amid rising inventory costs.
Fight for Your LIFO12/02/10
Is the White House's deficit-reduction commission filled with oil bulls?
How Are Recession Survivors Spending Their Cash11/10/10
During the recession, CFOs proved adept at liberating cash otherwise trapped in operations. Now, with nearly $2 trillion on their balance sheets, boards of directors and investors want to see growth, and CFOs are focusing on strategy and risk-adjusted return.
Are Directors Taking a Hard Line on CEO Misdeeds?10/27/10
The departure of the chief executives at Office Depot and Hewlett-Packard may be indication that boards are acting more quickly to address serious issues. The SEC's tough stance on enforcement and shareholder litigation may be pressuring boards to get rid of CEOs who are in trouble. What's more, a recent survey finds that CEO turnover is on the upswing.
Talking Numbers: Cash Flow Analytics10/13/10
A Case Against Impairment Testing10/07/10
A decline in share price may not necessarily mean a company should test its goodwill for impairment.
Show Me the Recovery09/03/10
While second-quarter sales increases are encouraging, weak cash generation is worrisome.
SEC 'Sends Message' Without Court Risk in Moody's Computer Glitch Case, Analysts Say09/02/10
The SEC issued a report about a computer coding error at Moody's in 2007. Moody’s did not change the underlying ratings until January 2008, the SEC said, which affected nearly $1 billion of debt. The Commission did not pursue a fraud case against the ratings agency, analysts said, because they could bring attention to the issue without running the risk of losing a court case.
Corporate cash flow may have peaked: report08/29/10
Survey finds free cash margin declined for first time in several quarters, as revenue growth remains fragile.
Big Oil's Cash Story07/27/10
A look at big oil balance sheets, with CNBC's Herb Greenberg.
The CFOZone Quarterly Cash Survey07/26/10
As second quarter 2010 results come into focus, the latest report by the Georgia Tech Financial Analysis Lab furnishes a short list of first quarter cash flow margin leaders.
Follow the Money07/02/10
Free Cash Flow: At the Brink?06/21/10
Up until now, companies have been able to find extra cash by cutting costs and capital spending. But if revenues stay flat, margins might narrow drastically.
Corporate profits poised to fall06/18/10
Corporate earnings look increasingly vulnerable to a lack of revenue growth, as companies have cut capital spending about as much as they can and are now dependent on cost reduction to sustain their profitability.
Investigation into Drug Maker's Meeting Could Indicate More Aggressive Stance on Reg FD06/17/10
Published reports said the SEC is investigating a meeting Mylan with Wall Street analysts and investors. The day after the meeting, the share generic drug maker's shares jumped 7%.
BP Establishes $20 Billion Damage Fund06/16/10
The decision by BP PLC (BP, BP.LN) to put $20 billion into a Gulf oil-spill-damage fund, and then to cut its dividend, provided clarity on two key issues that have clouded the outlook for the company. But the moves don't erase the political and financial uncertainty that BP will face as it struggles to contain the fallout from one of the biggest oil spills in U.S. history.
The Market's Smart Money Is Watching Free Cash Flow06/07/10
The headlines may be about earnings, but the smart money always pays closer attention to free cash flow.
More ado about fair value05/28/10
The accounting change for reporting the value of banks' loans, which got the New York Times all hot and bothered yesterday morning, really amounts to a hill of beans, once you take a closer look at it.
Naked swaps vs. naked shorts?05/24/10
I'm wondering if anybody else was confused by a point that Floyd Norris made in his column on naked credit default swaps last Thursday.
Lehman's Lessons and the Case for a Principles-Based System05/24/10
In the final months before its massive bankruptcy, Lehman Brothers was in the habit of shifting $50 billion off its balance sheet every quarter so it could tell investors it was healthier than it appeared to be. Some accounting practitioners believe the apparent manipulation of the rules-based guidance in SFAS No. 140 strengthens the argument for moving to a principles-based financial reporting regime.
Should losses cause worry?05/19/10
Many long-term investors always look for companies that can provide consistent growth in earnings and, more importantly, stable growth in earnings.
Capex Cuts Still Boosting Cash Flow04/29/10
Cutbacks in capital spending have made corporate free cash flow stronger than ever, says a new study.
The drought in corporate capital investment continues04/23/10
Despite signs of an economic recovery, US companies continued to cut capital expenditures as recently as the fourth quarter of last year, according to a report released Thursday.
Lehman's arrangement with Hudson Castle may have violated GAAP04/14/10
I'm far from the only person having a hard time understanding the significance of the deals arranged by a company that this page one New York Times story referred to as Lehman Brothers' "alter ego."
Banks' balance sheet maneuvers aren't limited to Lehman-like moves04/09/10
This article on the balance sheet maneuvers of 18 banks obscures the difference between risk taking and accounting for it.
IN THE MONEY: The Ups And Downs Of B Of A's Balance Sheet04/09/10
The balance sheet Bank of America Corp. (BAC) unveils at the end of each quarter appears notably lighter on assets than would be the case if investors could see it just weeks earlier.
Lehman Violated GAAP, Says Expert03/17/10
Lehman Brothers not only failed to properly disclose its use of repurchase agreements to make it look less highly leveraged than it really was, but also violated the accounting rules for such transactions, according to an accounting expert.
There's no single best way to measure corporate performance03/10/10
Juicing Receivables03/01/10
Receivables securitization not only survived the financial crisis but thrived as funding sources dried up and companies looked to accelerate cash collection.
Study Suggests More Leverage Ahead for Insurance01/29/10
The Emerging Issues Task Force of the Financial Accounting Standards Board is looking at some accounting changes that will have potentially dramatic consequences for insurance companies’ earnings, credit ratings, and financial leverage.
Insurance companies' profits and financial condition are weaker than reported01/15/10
Insurance companies' profits and solvency could take a big hit from a proposed change in accounting rules, according to a recent analysis.
U.K. Council Calls for Improving M&A Guidance01/08/10
A U.K. study uncovered a lot of frustration with the financial reporting requirements for business combinations. Reporting entities find the rules costly to apply, and investors don't get much from the information they provide. A regulatory agency said that this may be due to poor understanding and application of the rules.
As Capex Slows, Free Cash Margin Rises12/23/09
Companies have hit the brakes hard on capital spending, resulting in improved free cash flow as a percentage of revenue, according to a new study.
U.S. companies still cutting capex to boost cash12/19/09
U.S. companies continue to maintain their profitability in the face of declining revenues by cutting their capital expenditures, according to a study released on Friday.
SEC Said to Consider CFA’s Schacht to Lead U.S. Auditor Board12/01/09
The U.S. Securities and Exchange Commission is poised to name a chairman for the Public Company Accounting Oversight Board as the auditor watchdog prepares to fight for its survival at the Supreme Court.
Terra reappointment concerns governance experts11/23/09
On Friday, Terra's shareholders elected three directors backed by CF rather than the slate of incumbent directors backed by Terra, which included the company's chairman, Henry Slack.
Cash Flow Still Rising, But That Doesn't Mean a Recovery is Coming11/16/09
Cash flow is an all important measure of corporate health. The latest study from Georgia Tech's Financial Analysis Lab says that despite some modest improvement in cash generation, the increases aren't being spurred by increased sales but tighter management of spending and shortening the cash cycle. That doesn't bode well for a sustained recovery.
Fewer than half of all U.S. industries showing improved cash flow: study11/13/09
Only a minority of industries are seeing much improvement in free cash flow, according to a research study released on Friday. The authors say the findings support their view that any recovery by the economy will be fragile.
A Comparison of Reported and Cash Flow Analytics' Proprietary Cash Flow11/06/09
In this note, we illustrate that the proprietary Cash Flow Analytics measure of free cash flow outperforms various commonly used measures of reported cash flow.
A New Window on Cash11/01/09
Emerging standards for electronic cash transactions promise to shed more light on liquidity and cash flow.
Detecting "Creative Accounting" Practices and Avoiding Earnings Surprises11/01/09
Charles W. Mulford, Ph.D., discusses how to uncover problems posed by creative accounting in this interview with frequent Journal contributor Dev Strischek. Mulford addressed this topic with coauthor Eugene Comiskey in a 1996 book Financial Warnings, one of four books he has written on accounting practices, including The Financial Numbers Game (2002) and Creative Cash Flow Reporting (2005).
Amazon Shows Time Value of Money10/29/09
Just how long can Amazon put off paying its bills?
FASB Tweaks the Standard-Setting Process as Investors Demand a Bigger Say10/21/09
The FASB has always had to contend with different constituencies with competing points of view on accounting standards. But as the board works to give investors more of a say in how standards get written, it is finding that resolving the differences isn't getting any easier.
Cash flow - or dribble? Small firms fight money drain09/23/09
Many small businesses are facing a cash-flow crunch as customers drag their feet to pay their bills – taking as long as 120 days in some cases.
Cash Flow Undergoes Changes, Becomes Relevant09/22/09
Cash flow and its proper representation in financial statements has gained a lot of respect in recent years, and companies would be wise to give it more than an afterthought going forward.
Banks may have used accounting change to hide losses: report09/18/09
Barclays isn't the only bank that has taken steps that could inflate its earnings, according to a recent analysis of banks' 2008 financial results.
Surge in Free Cash Flow May Fizzle Out09/08/09
Corporate free cash flow rose substantially during the second quarter of the year, according to a study of 3,518 companies by the Georgia Tech Financial Analysis Lab. But the study, based on results for non-financial U.S. companies with a market capitalization of at last $50 million, also found that the improvement was driven largely by reductions in capital spending and working capital, suggesting that the improvement in cash flow may not be sustainable.
The Return of Capital Spending09/04/09
Companies that stopped capital outlays look to be starting them again, and that's a key component to global recovery
Managing Inventory: How Long Will Small Be Beautiful?09/02/09
Not all recessions are alike. The current downturn, for instance, stirs a memory in Charles Mulford of how different the situation was 35 years ago.
Successfully Obtaining Loans in the New World of Credit09/01/09
If you want to land financing in the near future, show banks you are adapting your business plan to "the New Normal." To generate extra cash, get back to basics on managing working capital.
Accounting Tricks Catch Up With GE08/04/09
General Electric agreed to pay a $50 million fine to the Securities and Exchange Commission, ending an investigation into accounting shenanigans that severely tarnished the company's reputation and helped set the stage for last year's collapse in its stock price.
Study Seeks Ways to Make Cash Flow Data More Useful07/14/09
After studying cash flow data for 15 of the biggest publicly traded commercial banks, the Georgia Tech Financial Analysis Lab is looking to stir some debate on how to make the information more useful to investors.
Push Is on for Better Cash Flow Statements to Combat Credit Crunch07/10/09
The ongoing financial crisis has given more urgency to long-running efforts to reshape the corporate reporting model—efforts that so far have borne little fruit. A key aspect of that debate focuses on improved disclosures and understanding of cash flow statements.
Cash Flow: a Better Way to Know Your Bank?07/09/09
If banks more consistently accounted for their operating cash flow, companies could gain a better grasp of their commercial banks' financial health, two professors suggest in a report to be released later this week.
How To Make Banks' Cash Flow More Useful07/02/09
Cash flow helps measure the financial health of most companies, but not banks.
U.S. Audit Board Delays Inspections of Foreign Firms06/25/09
The Public Company Accounting Oversight Board delayed expanding inspections of foreign auditors, setting back plans to tighten oversight after fraud went undetected at India’s Satyam Computer Services Ltd.
Study: Free-Cash Rise May Signal Start of Economic Turn06/23/09
But without revenue strength, cost cutting and tough debt collection can only go so far.
Healthier Corporate Balance Sheets Don’t Mean Higher Capital Spending06/23/09
The U.S. business sector has done the sensible thing during this lengthy economic downturn: reduce inventory and debt.
Is Boeing Less Than Zero?06/17/09
Few things are as painful to corporate chieftains as seeing the net worth of their companies evaporate overnight.
Many Wall Street Bonuses to Climb - Consultant05/28/09
Many Wall Street investment banking employees should see bonuses rebound in 2009 as earnings improve, a top pay consultant said, even as the government uses billions of dollars of taxpayer money to prop up the still-troubled industry.
Auditing Oversight Board Gets U.S. High Court Review05/18/09
The U.S. Supreme Court agreed to consider a constitutional challenge to the Public Company Accounting Oversight Board, the body created by the Sarbanes- Oxley Act to serve as the auditing industry’s watchdog.
Obama's derivatives plan could hurt corporate users05/14/09
The Obama administration's plans to move derivatives trading to exchanges could end up hurting companies that use the products, because accounting rules often make customized, off-exchange products a better choice for corporations.
Study: Cash-Flow Margins Declining05/04/09
Now at 4.12%, Corporate America's free cash flow measured as a percentage of revenue will likely decline to its 2001 recession level of 2.43% or lower, research predicts.
For Some Companies, A New Way Of Presenting 'Net Income'04/29/09
A new accounting change will alter the way some companies present the most basic measurement of their performance - net income - and could make some companies look less leveraged than before.
Mixed Approaches, Mixed Messages, on Financial Reports04/28/09
The financial crisis has brought corporate accounting to a crossroads: the historical-cost method on one side, fair value on the other.
Seattle FHLB Had 'Material Weaknesses' in Internal Controls04/01/09
The Seattle Federal Home Loan Bank found "material weaknesses" in how management accounted for losses on mortgage bond investments, a flaw that may take as long as six months to fix.
Study Predicts 50% Cut in Free Cash Flow03/27/09
The median free cash flow for nonfinancial companies could sink by 50% during the next year, especially if the recession continues to choke revenue streams, a new report says.
Citigroup, Bank Shares Climb on U.S. Toxic-Debt Plan03/23/09
Citigroup Inc. and Bank of America Corp. led bank shares higher after the U.S. Treasury proposed a plan to finance as much as $1 trillion in purchases of distressed assets clogging lenders' balance sheets.
When Can an Asset Sale Become a "Merger"?03/16/09
As companies move to boost liquidity by selling off assets, some executives will be surprised to find that the transactions may be subject to a new merger rule.
Lawmakers Propose Panel That Could Suspend Fair-Value03/06/09
Two U.S. lawmakers want to create a regulatory panel that would be able to suspend accounting rules such as the fair-value standard that financial companies have blamed for worsening the global credit crisis.
What's Your Free Cash Flow Margin?02/25/09
A new study tracks free cash flow as a percentage of revenue. Could this metric turn out to be the single most important measure of financial health during a recession?
Merrill Had 'Material Weakness' in Internal Controls02/24/09
Merrill Lynch & Co., the securities firm taken over by Bank of America Corp., said its auditor found "material weaknesses" in its internal controls over accounting.
Who Put the Brakes on Capex Spending?02/03/09
The number of capital-intensive companies that halted capex spending reached 42 in 2007.
Tax Tip: Spend Your Way Out of the Recession02/03/09
Cutting capex spending during an economic downturn may trigger higher tax payments and reduce cash flow, a new study says.
Capex cuts could trigger tax hit for capital-intensive companies01/26/09
Analysis shows that businesses that previously took sizeable accelerated deductions may get slammed by spending reductions.
In Praise of Volatility01/15/09
Smooth returns can be a sign of danger for investors.
India’s Enron Puts Auditors Back Under Scrutiny01/13/09
The accounting scandal that imperils Satyam Computer Services Ltd., embroiled in India’s biggest corporate fraud investigation, is raising concerns about oversight of international companies that trade in the U.S.
Have Cash, Won't Borrow01/09/09
A new free cash flow metric reveals which companies can grow without going to the bank or the capital markets.
Pricewaterhouse Defends Its Audit Procedures01/08/09
PricewaterhouseCoopers, which signed off on Satyam Computer Services Ltd.'s finances for several years without detecting the fraud by Satyam's founder and chairman, defended its procedures on Thursday.
SEC Recommends Keeping Fair-Value Rule With Changes12/30/08
The U.S. Securities and Exchange Commission rejected calls by banks to suspend an accounting rule blamed for exacerbating the financial crisis, saying the "fair-value" standard should instead be improved.
Financial Week Reprints12/22/08
End of last-in, first-out accounting could result in big hit to oil companies, chemical makers, metal benders and retailers.
One Beneficiary of IFRS Switch: the Taxman12/22/08
A popular method of inventory accounting, not allowed under international rules, will have some U.S. companies paying higher tax bills.
For homebuilders, 2009 shaping up worse than '0811/18/08
The housing slump is set to worsen in 2009, as fallout from this year's plunge in the stock market and consumer confidence continues to cast a pall over potential buyers.
Bear Stearns Is Faulted on Its Valuations in 200710/18/08
Bear Stearns Cos. improperly valued certain assets to avoid taking write-offs in 2007 as the credit crunch was beginning to unfold, according to the Securities and Exchange Commission's inspector general.
U.S., International Boards Abandon Plan to Drop Net Income Item10/16/08
U.S. and international accounting rulemakers abandoned a proposal to eliminate the reporting of net income on financial statements, saying investors rely on the calculation to assess a company's health.
Accounting board adds a fair-value fan10/05/08
New FASB member Marc Siegel advocates taking actions that add transparency for investors, rather than minimizing the impact on companies.
Bailout Bill Offers Few Clues for Valuing Assets for U.S. Purchase10/03/08
The U.S. government is on the verge of embarking on the largest asset purchase in history in a bid to revive credit markets, but the legislation authorizing the bailout offers precious little information on how the purchase will work or how those assets will be valued for determining an acceptable purchase price.
Banks Revive Call for Break on Fair Value Guidance09/27/08
The banking industry has begun to lobby for a moratorium on fair value accounting, and bankers want the Treasury Department and the SEC to not apply rules such as SFAS No. 157 for the troubled assets that will still weigh down their balance sheets once the bailout is finished.
U.S. Bancorp, Industry Leaders Urge SEC to Ease Accounting Rule09/25/08
Bank executives and their lobbyists urged U.S. regulators today to help cut losses from hard-to-price assets amid a global credit crisis that has cost financial companies more than $500 billion.
Wall St. Points to Disclosure As Issue09/23/08
Accounting Rule Cited in Turmoil
FASB rule changes may be too little, too late for some09/16/08
Fiddles to FAS 133 aimed at providing greater disclosure of credit default swaps.
Companies Bypass FAS 133 to Achieve Hedge Accounting09/09/08
A study this week from the Georgia Tech Financial Analysis Lab provides some indication of why companies may be eager to shed the complexities of U.S. Generally Accepted Accounting Principles and flock to a more flexible international rule book.
Businesses find plenty of reasons to avoid hedge accounting: study09/05/08
Cost of documentation and monitoring one of the big problems, Georgia Tech research reveals.
Why CFOs Still Don't Like Hedge Accounting09/05/08
FASB's effort to make hedge accounting more palatable may not address the real reasons finance chiefs don't like it, including documentation headaches and the risk of restatements.
When Hedge Accounting Isn't The Best Idea09/05/08
Counter-intuitive as it may seem, sometimes it's better for a company to not do something that could help its financial results.
AUDITORS MUST REVEAL CONFLICTS OF INTEREST IMMEDIATELY09/02/08
A new PCAOB rule requires an auditor to affirm its independence in writing coming in the door.
National City Holds Hidden $1 Billion Stake in Visa08/21/08
National City Corp., the Ohio bank whose market value fell 70 percent this year on investor concern that capital may run short, has a $1 billion stake in Visa Inc. that doesn't get counted on its balance sheet.
Lots of Visa Stock, But Not Much Credit08/21/08
National City has suffered mightily over the past year, with its stock plunging some 70 percent in 2008 and its needing an emergency capital infusion from a private equity firm this spring.
Accounting shift may speed up deals before year end08/10/08
There's been a pickup in corporate acquisitions lately. While that should be cause for celebration, it's not surefire evidence that companies are getting back to business despite the current financial and economic woes.
FASB News: Board Approves 2010 Adoption Date for Amendments to SFAS No. 140 and FIN No. 46(R)07/31/08
FASB agrees with staff recommendation not to split the effective dates for new guidance governing off-balance sheet entities and existing ones.
FASB News: Board Will Consider Whether 2009 Is too Soon for New Consolidation Guidance07/30/08
As the FASB meets to discuss the timing for adopting the revised guidance under SFAS No. 140, Board members will have to consider whether financial institutions have enough time to adjust.
U.S. Steel, Allergan Criticize Disclosure Proposal07/29/08
U.S. Steel Corp., America's largest steelmaker by market value, and Allergan Inc. are among U.S. companies that criticized a proposed accounting-rule change calling for more disclosure of potential losses from lawsuits.
FASB Proposes Changes to Hedge and Derivative Accounting Rules07/07/08
In an effort to simplify one of the most complex and criticized financial reporting regimes, the Financial Accounting Standards Board (FASB) is proposing changes to hedge and derivative accounting rules.
Preferred Stock; Rethinking M&A; More06/24/08
Brace for bigger liabilities on the balance sheet and a larger ratio of liabilities to equity if the Financial Accounting Standards Board stays the course in redefining preferred stock as a liability.
Regulators, FASB Move to Reduce Risk, Increase Transparency for Credit Derivatives06/13/08
As a new wave of concerns about instability in global credit markets crests, financial standard setters and regulators have moved to tighten regulations and increase disclosures for credit derivatives.
Why Preferred Treatment Might Hurt06/12/08
Treating preferred stock as a liability — as accounting standard setters are thinking of doing — would simplify financial reporting, a new study says. But it also would pummel shareholder's equity at companies that are heavy issuers.
Hedge Accounting: Caging the 800-page Gorilla06/11/08
FASB announces plans to overhaul one of its most confounding creations.
How Merger Rules May Nick Earnings; More06/03/08
Companies split on taking ARS cash hit06/02/08
R&D's true costs05/30/08
Dealmakers will have more to think about next year when acquiring a company that has yet-to-be-completed research-and-development projects.
SEC's Cox Backs Oversight of International Accounting05/28/08
U.S. Securities and Exchange Commission Chairman Christopher Cox said he supports a plan to put international accounting standards under the oversight of a regulatory body.
Ex-numbers guy gets Beazer cleaver05/27/08
Former chief accountant taking fall for earnings manipulation.
Study: R&D Rule Threatens Future Earnings05/20/08
In the year of an acquisition, however, it should boost net income and help some companies swing reported losses into a profit.
FASB change threatens earnings from acquired R&D05/14/08
But impact of FAS 141R will depend on industry, number of purchases, Georgia Tech finds
Ambac Packs Balance Sheet With Hope of Audacity05/07/08
Ambac Financial Group Inc. didn't see the subprime-mortgage mess coming until it was too late. Yet to trust its latest balance sheet, you must believe its executives can predict what Ambac's income will be for the next 20 years.
Rules of Engagement05/01/08
Decoding the 25,000 pages of FASB rulings is not a task for the faint of heart. But plans to distill the information into a single-source Web-based document should make the job a lot easier.
Wanted: Tech-Savvy Accountants05/01/08
From beans to buttons, today's accountants must excel at software, spreadsheets, and the Web.
How SFAS No. 161 May Usher in a New Era for Hedging Disclosures04/29/08
The FASB has been pushing banks and brokers to do a better job of disclosing their derivatives positions for more than 20 years. With its most recent guidance on the topic, it’s provided statement users with the best read they’ve ever had on risk management.
New Non-controlling Interest Rules Increase Equity04/22/08
The new approach to accounting for minority, or non-controlling, interests in subsidiary companies will boost stockholders’ equity and net income—and some of those increases will be big enough to skew reported results, according to a recent analysis.
For Some, Minority Interests Will Be a Major Boost04/22/08
New accounting rules for minority interests will boost shareholder equity and lower leverage ratios at most companies.
Report: New accounting regs will boost companies' shareholder equity04/16/08
FAS 160 and FAS 141(R) force equity interests onto the balance sheet; meanwhile, leverage will drop.
Companies Ponder Accounting While Awaiting Auction-Rate Thaw04/11/08
There's no controversy among chemists about when or whether water is liquid, and meteorologists agree on the difference between rain and snow, but accountants have reached no consensus as they assess the liquidity of auction-rate securities in a market that is largely frozen.
Derivatives: the New Disclosure Rule03/28/08
Corporate users of credit-default swaps and similar instruments soon must show where they report them on their balance sheets and income statements.
'Auction Rates' Clip Tech Firms' Profits03/28/08
Write-Downs Mount After Market Seizes Up For Cash Alternative
Banks may get more leeway on reserves03/24/08
Regulators will seek to ease accounting rules that prevent cookie jar reserves for expected loan losses.
Most retailers burning cash as spending slows03/17/08
The slowing economy is starting to show up in weaker consumer spending, but not all retailers are suffering the same consequences.
3 ways companies bury their debt03/12/08
To hide the facts from shareholders, companies disguise long-term debt, stock-option obligations and other nasty numbers in some creatively tricky ways. Here are some of the biggest offenders.
Home builders move to Junk Street03/03/08
Housing market melt-down has taken a stiff toll on the credit ratings of builders.
In the Drop Zone03/01/08
Regulators continue to work toward one global set of accounting standards, but as IFRS and GAAP are converged, it's not how you land, it's how you fall.
GE May Change Accounting Policies Amid SEC Inquiry02/19/08
General Electric Co. may make further changes to accounting policies and procedures once it completes an internal investigation tied to a three-year-old U.S. Securities and Exchange Commission accounting probe, people familiar with the matter said.
The Cash Flow Growth Profile™ and the Retail Industry: Signs of a Slowing?02/15/08
A slowing U.S. economy is impacting retail sales and hurting the retailers. The purpose of this study is to examine the extent to which problems seen at the macro level are hurting the retailers as a group and within four industry sub-groups, department stores (fashion), department stores (variety), warehouse stores and dollar stores. We look at the performance of 22 retailers using the Operating Growth Profile™ and Free Cash Growth Profile™, two metrics that are very useful in evaluating a firm’s ability to generate cash flow as it grows.
Do Proposed Pension Changes Create Earnings Volatility?01/29/08
As accounting rulemakers press forward with a likely requirement for mark-to-market, fair-value accounting for pension assets and liabilities, a new study confirms market fears that the result will create substantial volatility in earnings.
Reporting gurus redo financial statements01/28/08
Revamped P&Ls may ease concerns about fair value; pension changes already made have added volatility
Truest look at banking still to come01/24/08
You can take it to the bank. Wednesday's rally on Wall Street, by far the biggest of the new year, was led by gains in the shares of banks and financial service companies.
Revamped financial statements may ease concerns about fair value01/23/08
While the debate rages about the worth of fair-value accounting, an ongoing project may render the issue less controversial.
New Pension Accounting: Volatility City?01/21/08
If FASB makes companies run plan assets through their income statements, they can expect herky-jerky profits, a new study suggests.
Pension-Accounting Changes May Increase Volatility01/16/08
Pension-accounting reform may have fallen off investors'radar screens over the past year or so but it's still looming, and a forthcoming academic study suggests what could be at stake.
Hold the Tears for Eddie Lampert12/24/07
ESL Investments is on track for losses of 20% to 30%, the worst in its 20 years, according to estimates from one ESL investor.
Report: Lease Financing on the Rise12/19/07
Companies are spending more on leases, loans, and credit.
AMD Warns of "Material" Goodwill Charge12/13/07
It seems that the microprocessor manufacturer paid too much to acquire ATI.
FASB Rule Spawns a Second Bottom Line12/07/07
The new standard kicks minority-interest equity out of the mezzanine, changing what makes up net income.
Lease Accounting: Falling Rents Will Boost EBITDA11/27/07
Mandates will make hefty amounts of rent expenses disappear as corporations account for operating leases in a new way, a study finds.
Study: Companies Should Review EBITDA-Based Contracts11/27/07
Companies should perk up to looming changes in lease accounting and begin reviewing debt covenants and compensation agreements heavily tied to a common non-GAAP metric: earnings before interest, taxes, depreciation and amortization, or EBITDA.
New leasing standard brings windfall for some11/26/07
An accounting change that will move leases onto balance sheets could cut rental costs and ease debt restrictions - and boost executive compensation.
Fair-value accounting rule kicks in at crucial time11/15/07
Called "tricky" by at least one industry observer, a new accounting standard that's already caused problems in the investment-banking business kicked in officially on Thursday.
G.M. Takes $39 Billion Charge on Tax Offset11/07/07
General Motors said Tuesday that it would take a $39 billion noncash charge in the third quarter to remove net deferred tax assets from its books.
Google's Bad Grade10/29/07
More loan losses to come10/22/07
The Negative Side of Goodwill10/18/07
FASB's proposed business combination rule requires companies to recognize negative goodwill immediately.
Accounting Board Declines to Delay Asset-Value Rule10/17/07
Negative Goodwill; Restatements; More10/16/07
New accounting rules for mergers will force companies to show more upfront gains in acquisitions where the ultimate purchase price adds up to less than the appraised value of net assets, according to a recent analysis by the Georgia Tech Financial Analysis Lab.
Volcker, Mulcahy, Flynn, Yerger Named to U.S. Treasury Panel10/02/07
Numbers Game Won't Die, Even If Net Income Does09/19/07
Swaps and Ends09/12/07
FASB Action; Cash Flow; SME Accounting09/11/07
When Swaps End, Accounting Confusion Begins08/28/07
Stocks Fall Sharply As Credit Woes Intensify08/16/07
Historical study suggests DJIA should be at 14K08/16/07
Historical trends suggest the Dow Jones Industrial Average should be trading in the range of 13,700-14,000, according to a new study by the Georgia Tech College of Management.
Observed08/06/07
Study: As the Economy Grows, So Grows the Dow08/01/07
The fate of equities and the fortunes of the economy are correlated in the long run.
Seeking Guidance for the Dow? Try GDP08/01/07
The Messy Art Of Cash Flow Statements07/17/07
Growing with the Flow07/11/07
Extraterrestrial accounting?07/02/07
SEC Panel to Study Ways to Improve Financial Reports06/27/07
Halliburton's Accounting Might Make You Wonder06/21/07
Lease Accounting Changes Hit Lease-Dependent Industries Hard06/19/07
Recent analysis of financial statements for lease-heavy retail companies shows that the growing momentum for reform in lease accounting rules will result in material changes to key measures of fiscal health-especially profitability, financial leverage, debt coverage, and cash flow.
Debt Hazards Ahead06/18/07
New Lease Accounting May Roil Retailers06/14/07
A new study looks at what would happen to some prominent retailers if accounting rules required the capitalization of operating leases.
Cash Flow Analytics reaches finals in state competition06/13/07
Retailers seen taking lease accounting hit-study06/12/07
Comparability Suffers Under Principles Approach06/05/07
SEC eyes real estate reporting practices06/04/07
Fixing SarbOx: Now for the hard part05/28/07
Is Federated As Flush As It Looks?05/28/07
Convertibles: Get Ready to Leverage Up05/23/07
Leeway In Acctg May Mean Cash-Flow Confusion05/21/07
Follow the Money05/20/07
FASB, IASB Begin Rethinking Leases04/26/07
The Growing Revolt Against The SEC04/23/07
All isn’t fair in fair-value accounting04/09/07
'Cash Equivalents' Nixed04/03/07
In the context of a long-range project to rewrite the rules for business-performance reporting, the Financial Accounting Standards Board has decided the new system it eventually develops will no longer allow a line item for "cash equivalents."
Cellphone unit vexes EarthLink03/31/07
FASB Moves to Nix "Cash Equivalents"03/22/07
The Financial Accounting Standards Board voted to change financial statements by wiping out some outdated words.
Cash Flows Require A Careful Balancing Act03/20/07
When Fair-Value Rules, Acquisitions Collide03/20/07
GM Admits Accounting Gaffes03/16/07
Market Summary: Parting Shots - Housing02/16/07
Apple’s latest innovation02/05/07
Zions Gets SEC Approval for Valuing Stock Options01/30/07
Bad foundation in housing industry01/29/07
Why the Big Four Are Still a Big Mystery01/26/07
GE Report Raises Doubts01/20/07
Reasons To Expect Home-Builder Write-downs01/19/07
Earnings Quality Declines as Cap Ex Rises12/28/06
U.S. Lawmaker Frank Seeks to Rein in Executive Pay12/27/06
SEC Plans to Change Rules for Disclosing Value of Stock Options12/22/06
Financial Statements of the Future12/13/06
Accounting experts puzzle over Home Depot backdating12/13/06
UnitedHealth confronts challenges after CEO change10/22/06
Within a day after UnitedHealth Group's CEO, William McGuire, was ousted, the health-insurance giant was already trying to assure its business customers that the scandal wouldn't affect operations.
How Did UnitedHealth's McGuire Get Same Options Twice?10/20/06
Investors and the public heaped scorn on William McGuire this week for his role in apparent stock-options backdating at UnitedHealth Group Inc. But his thorniest legal problems could stem from a 1999 transaction in which backdating played only a minor role.
Deficit Retention Disorder?10/06/06
SEC Clarifies Exemption on Backdated Options09/20/06
Accounting Board Restores Method Banned After Enron09/15/06
Where Accounting Meets Language09/01/06
How Firms Use 'On' or 'Of' In Citing Investment Returns May Cut Into Cash Flow
The Cash-Flow Impact Of Changing One Letter08/30/06
Rarely has a difference of a single letter made such a difference for some companies.
Taking the pulse of Georgia companies08/05/06
Fast Payments Hurt Tech Firm Cash Flows07/26/06
What they said07/01/06
RICK WAGONER: Move puts squeeze on GM's chief07/01/06
Securitization: Cash Flow on Tap06/30/06
Conventional wisdom says technology stocks have hit a wall. Their cash piles say different.06/19/06
Quick Cash via Receivables Deals Can Leave a Blurry Fiscal Picture06/16/06
Securitzation Can Affect Cash Flow, Debt06/09/06
A LOOK AT THE BOOKS: How GM juggled millions GM's road may get rougher06/04/06
CASH FLOW: In 2004, professor called attention to GM's methods06/04/06
Software Capitalization Clouds Comparisons05/26/06
Options Rule Also Hits Operating Cash Flow05/15/06
LSE Stake Already Seen Adding To Nasdaq Profits05/12/06
Nasdaq's LSE Stake Raises Hurdle For Rival Bidders05/10/06
FASB To Revisit Lease Accounting05/09/06
True or False: A Hedge Fund Plotted to Hurt a Drug Maker?03/26/06
How Blockbuster, Netflix Differ (Or Don't)03/22/06
Act Now, and Avoid a Restatement03/20/06
GM Bookkeeping Errors May Indicate Aggressive Accounting Style03/18/06
Now G.M. Has Woes on Audits03/18/06
TechWeek: H-P's Funny Money03/17/06
How Comcast Does Its Counting03/10/06
Don't Call It Cash Flow If It Isn't03/08/06
How Investing-Gain Taxes Can Cut Operating Cash Flow02/21/06
Little Impact From Expensing Stock Options02/10/06
Documents Show an Omnicom Transfer02/08/06
Stock Buyback Now May Spur a Big Bill Later01/31/06
The Dirty Little Secret About Buybacks01/23/06
Taxing Times11/28/05
Thumbs on the Scale11/28/05
Calpine Financial Error Pushes Shares Down 9%11/05/05
DJ IN THE MONEY: Caterpillar May Have Overdone Cash-Flow Cut11/03/05
Stock Options, Meet Pro Forma10/31/05
Book Corner: Creative Accounting in the Post-SOX Era09/12/05
Go Direct08/26/05
Cash Flow Analytics Announces Launch of CASH System08/17/05
Report Shows How Krispy Kreme Sweetened Results08/11/05
The Big Four: Can't Touch This?07/12/05
Stock buybacks gaining favor07/08/05
Looking Good Through Insurance06/21/05
IN THE MONEY: How A Disaster Can Boost Your Operating Cash Flow06/16/05
SEC Acts to Curb Cash Flow Shenanigans06/09/05
For Cash-Rich Firms, Buybacks Are All the Rage05/24/05
Bond BuyBacks Shouldn't Have Zero Effect05/23/05
Paychecks on Steroids05/09/05
Delphi and GM Accounts Seem at Odds04/28/05
One-Time Gains Gave a Lift to Intel's Results04/20/05
GM's Handling of Transactions With Delphi Raises Questions04/13/05
Sarbanes Seeks Rent Control04/08/05
Free Lunch03/28/05
'Cash Flow' Isn't What It Used to Be03/24/05
Firms Feel the Sarbanes Slam03/22/05
Cos' Past Oper Cash Flow Takes An SEC Hit03/22/05
Georgia Tech professor helps police Wall Street03/20/05
Gift Cards: No Gift To Investors03/14/05
FASB's Merger Advice: Expense Those Fees03/08/05
GE Cuts Operating Cash Flow Because of SEC03/04/05
Clear Channel Communications downplays write-off03/01/05
Little Campus Lab Shakes Big Firms03/01/05
SEC Tells Auto Makers To Retool Cash-Flow Acctg02/28/05
One Plus One Equals Non-Plussed02/24/05
Yet another witch hunt against short-sellers02/24/05
Go Directly to Cash01/27/05
Cash May Not Be King For Finance Stocks01/26/05
Mulford and Comiskey's Creative Cash Flow Reporting01/25/05
Restatements Up 28 Percent in 200401/20/05
Hands-on investor: Read your way to riches01/17/05
Nortel, Deloitte Take Risk By Keeping Audit Relationship01/13/05
In the Same Language01/01/05
Serving Up Dividends01/01/05
A Best Practices Approach to Cash Flow Reporting: Implications for Analysis01/01/05
The Warranty Windfall12/20/04
Reaction to Novellus Filing Clouds Transparency Issue12/20/04
SEC Tells Fannie Mae to Restate Earnings12/16/04
Capital Ideas: The Leaseback Effect12/16/04
Is Fair Value Flawed?12/01/04
A Recommended Book12/01/04
Free Cash Flow Gets More Scrutiny11/25/04
Companies' Stock Pay Price for Internal Control Disclosures11/18/04
Sieve Company Filings, Because the Truth is in There11/16/04
SEC Targets Morgan Stanley Values11/08/04
Tech Profs Write about 'Creative Cash Flow'11/01/04
Directors Named for Internal Probe at Krispy Kreme10/05/04
Fuzzy Numbers10/04/04
Why Cash Flow Can't Be Trusted10/04/04
Does Novastar Manage Earnings?09/29/04
Can CA Get Back to Business09/29/04
Going with the (Free-cash) Flow09/01/04
Accounting Board Finds Violations08/27/04
Sarbanes' Pain Getting Sharp for Some08/24/04
Helen of Troy Is Attracting Skeptics08/18/04
Western Wireless08/16/04
An Expensive Option08/16/04
The Cash Cost of Stock Options07/29/04
Under SEC Eye, Red Hat Restates07/14/04
Accounting Free Fall07/12/04
Nortel Board Finds Accounting Tricks Behind '03 Profits07/02/04
KPMG to Remain MCI Auditor06/30/04
Options Expensing Ripe for Abuse06/29/04
Financial Statements are Still a Tangle06/16/04
OmniVision Seems to Have Mistimed Revenue06/09/04
Earnings Madness06/08/04
Krispy Kreme Franchise Buybacks May Spur New Concerns05/25/04
Charter Communications' Murky Free Cash Flow05/11/04
Nasdaq Threatens Global Crossing05/03/04
Hutshison Whampoa Results Upset Accounting Experts04/22/04
Tax Minimization At Acxiom Corp04/18/04
Outside Audit: 'Cash Flow Never Lies' - Or Does It?04/16/04
Operating Cash Flow04/16/04
PepsiCo Takes on the Numbers04/01/04
Tyco Jury Deliberations Appear Back on Track03/31/04
Corning's Bottom Line Gained from Reversals03/14/04
The Penny Drops but the Numbers Game Continues02/27/04
With 'Free Cash Flow' It's Caveat Emptor02/12/04
Companies Complain About Cost Of Corporate-Governance Rules02/10/04
With 'Free Cash Flow' Be Sure What You Get02/05/04
Annual Review of Financial Reporting Matters02/01/04
Probe of Coke's Sales Leads to Japan01/30/04
New Issues Are Raised Over Independence of Auditor for MCI01/28/04
Two Audit Firms Charged With Aiding Clients' Fraud01/21/04
Big Four Firms Chose Different Divestiture Routes01/19/04
Cutting Through Enron's 'Web.'01/19/04
After Adecco Sell-Off, An Opportunity to Buy?01/15/04
Error-Driven Restatements Rose Again in 2003, but Pace Slowed01/13/04
They Might Be Giants01/01/04
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