Mister Finance
Financial insights, commentary, and advice.


A Mumbled 133 Restatement
Posted on October 10th, 2006 on The AAO Weblog
Last Friday, Federal Agricultural Mortgage Corporation announced that it was going to “restate its financial results from 2001 to eliminate the use of hedge accounting under SFAS 133 for...

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First Data’s Derivatives Restatement
Posted on August 23rd, 2006 on The AAO Weblog
Late in 2005, many companies were restating their financials because they had improperly taken the “shortcut” justification for skipping effectiveness testing in their accounting for interest rate swaps. Some firms had failed t...

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Bank Of America: Shortcuts Revisited
Posted on May 30th, 2006 on The AAO Weblog
It seems almost like years, but just about six months ago, the accounting buzz centered on “hedge accounting shortcut restatements.” It seemed as if every financial institution, large or small, had taken liber...

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Community Bancshares: Another Failed Shortcut
Posted on February 28th, 2006 on The AAO Weblog
Toss another log to the building bonfire of backtracking derivative shortcutters. Community Bancshares filed a non-reliance 8-K yesterday describing...

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Bank Of America: Shortcut Gone Wrong & Long
Posted on February 22nd, 2006 on The AAO Weblog
One of the biggest banks in America has become one of the biggest companies to restate its financials due to the improper use of the “shortcut...

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