[expat_panama]

It’s Silly Season.

Sure is, both for the political hackathon and the silly market-bashing article. 

[Mase]

The silliness has become comical as it pervades every thread. You can't even discuss gardening or pictures of cats without someone throwing in the obligatory insult. It's no surprise that the subject of financial accounting isn't spared.

The article was interesting but I wonder how much of the complaining is legit. With so many businesses eschewing GAAP, what is the real impact? It's not like any junior analyst on Wall Street can't figure out how they calculate earnings. When investing, I look for well managed companies with products I believe will be in demand for the future. Then I look at the present value of operating free cash flows. No need for GAAP.