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Health Care & Environment

07.20 Until Emissions Drop, Nothing Has Been Accomplished: The Climate Resistance Handbook Is Here. [Trump can't be bothered as the world turns into a large cinder. His laser focus is on personal greed.]

07.20 Babies Born Near Oil and Gas Wells Are Up to 70% More Likely to Have Congenital Heart Defects, New Study Shows

07.20 Giving 'Upper Hand to Corporate Polluters,' EPA Drops Surprise Inspections

07.20 With Petition to Congress, 100,000+ People Demand Green New Deal 'That Fixes Our Food System' [Realtime proactive response to reality—now and threatening—doesn't get attention in this greed focused administration]

07.19 Trump administration won't ban pesticide tied to childhood brain damage [There is no truth to the persistent rumor that chlorpyrifos pesticide was heavily used at Trump's childhood home in Queens]

07.19 'Unprecedented' Decline of Plants and Animals as Global 'Red List' Reveals Nearly One-Third of Assessed Species Under Threat

07.17 ‘Off-the-charts’ heat to affect millions in U.S. in coming decades

07.17 Planned Parenthood president Leana Wen forced out by board [Given that states have lost abortion rights on political grounds recently, Wen's philosophical approach to protect abortion rights based on ‘health care’ was smarter – therefore it was that smarter strategy that was killed at the secret meeting.]

07.17 Billions of air pollution particles found in hearts of city dwellers

07.17 What is happening in America's Cancertown is tragic, immoral and evil [Niggardly white government policies could change to produce better students, better jobs and net revenue instead of costs. But it seems they enjoy more cruelty—like Trump.]

07.16 US aid cuts to UN agency will hurt vulnerable women and children, critics say

07.16 Trump abortion restrictions in effect for taxpayer-funded clinics

07.15 The response to DRC’s Ebola crisis isn’t working. Here’s what we need to do

07.15 Extinction Rebellion protests block traffic in five UK cities [Non-corporate human animals make their annoying bleating sounds...]

07.14 A Glacier the Size of Florida Is Becoming Unstable. It Has Dire Implications for Global Sea Levels [The willfully ignorant needn't read more, Trump]

07.13 'Climate Despair' Is Making People Give Up on Life [Willfully ignorant governments—having fired many of their best scientists—have made themselves too stupid to despair]

07.13 Trump administration to approve pesticide that may harm bees [The worst government money can buy!]

07.12 These solar panels don’t just generate power—they produce drinking water

07.12 David Attenborough: polluting planet may become as reviled as slavery [1:34 video]

07.11 7,000+ Colleges and Universities Declare Climate Emergency and Unveil Three-Point Plan to Combat It [Fox News and Betsy DeVos never talk about this stuff so it must be Bull Shit, right?]

07.10 Plastic Has A Big Carbon Footprint — But That Isn't The Whole Story [Fixing our world begins by educating your consciousness with the best truth from trustworthy news sources—so you'll then insist truly bad things will get fixed. But if instead you are educated by untrustworthy news sources—then your consciousness could be warped to where you are hating and fighting with your best friends. Clue: untrustworthy news sources never seriously report news about the world's most critical emergency—Global warming.]

07.10 Molly Scott Cato: ‘It’s the wealthy who are causing climate change’

07.09 Judge reinstates Madrid's low emissions zone [Yeh!]

07.07 How Solar Panels Work (And Why They're Taking Over the World) [Hope they leave space between panels for wild flowers to grow so birds and butterflies can flourish!]

07.05 Tree planting 'has mind-blowing potential' to tackle climate crisis

News Media Matters

07.19 Fox News’s star names excuse the inexcusable after Trump's latest racist attack

07.18 In Sinclair's New 'Must-Run' Segment, Former Trump Adviser Tries to Defend Racist Attacks on 'the Squad'

Daily: FAIR Blog
The Daily Howler

US Politics, Policy & 'Culture'

07.20 Puerto Rico: top US politicians join chorus calling for governor's resignation

07.20 Fact check: Trump says Puerto Rico got $92 billion. They've seen only a fraction [If he opens his mouth, Trump's lying.]

07.20 "Trump Says Go Home, Ilhan's Community Says Welcome Home": Rep. Omar Greeted With Cheers of Love and Support in Return to Minnesota

07.20 WATCH: Amid Extreme Anti-Refugee Push, Trump Displays Neither Interest Nor Knowledge of Asylum Seekers' Plight in Oval Office Meeting

07.20 Trump Denies Being at North Carolina Rally [Not sure if Trump supporters 'get' satire, but here goes....]

07.19 Are progressives working on a climate plan for 2021? You bet.

07.19 House Democrats demand Hope Hicks clarify testimony after Cohen document dump

07.19 The 51 most outrageous lines from Donald Trump's repugnant North Carolina rally

07.19 The Real Meaning of ‘Send Her Back!’

07.18 Alexandria Ocasio-Cortez on Breaking up Homeland Security

07.18 Deadly Delays in Jail Construction Cost Lives and Dollars Across California

07.18 Inside Trump's DC hotel, where allies and lobbyists flock to peddle their interests [Also, too much ignored by media, the $millions "donated" corrupting moderate Democrats and Republicans every election cycle must stop]

07.18 This Republican's Case for Medicare for All [A well-informed Republican is rare, so let's hold him in the light so others may learn]

07.18 Trump rally crowd chants 'send her back' after president attacks Ilhan Omar [1:03 video shows Trump pandering to his ignorant idolaters, and together they're making America a greater shit-hole country]

07.18 "Can't Change a Corrupt System by Taking Its Money": Sanders Urges All 2020 Democrats to Reject Insurance, Big Pharma Cash [49:02 video w/ lousy sound]

Justice Matters

07.19 UN urged to act over 'purge' of Turkey's lawyers by Erdogan

07.19 DOJ Releases Strong Evidence of Trump’s Campaign Finance Violations But No Explanation of No Charges [The statement]

High Crimes vs. Human Rights

07.19 Conscientious objectors of first world war – their untold tales [The record proves they were morally right by avoiding violent early deaths of their cousins and themselves]

Economics & Corrupt Capitalism

07.18 Corporate tax cuts blocked at least 15,000 affordable homes in California. Here’s how

07.15 China’s Economic Growth Hits 27-Year Low as Trade War Stings

International & Futurism

07.20 US to deploy troops to Saudi Arabia in face of 'credible' regional threats [Working with Osama bin Laden's godfathers, Trump wants to profit like Erik Prince (for-profit education secretary Betsy DeVos' brother) of Blackwater infamy (hurriedly renamed ‘Academi’), the U.S. taxpayer to pay inflated costs while Trump siphons off long-term emolument largesse]

07.20 Iran on 'dangerous path' with seizure of Stena Impero, says UK [Which is this, a tit or a tat?]

07.20 'Dark satanic mills': Tony Abbott continues his crusade against wind turbines [Too much CO2 air pollution makes you stupid, and turns your country into an “Idiocracy” (1:36 video clip)]

07.20 Bolsonaro declares 'the Amazon is ours' and calls deforestation data 'lies' [Lazy and willfully stupid whenever it serves his purpose, just like Trump. “And the rest of you can all go to hell.” Again, just like Trump. Has your country turned into an “Idiocracy”? (1:36 video clip)]

07.19 U.N.'s Bachelet says Congresswomen opposing Trump are 'fantastic'

07.19 Iran makes 'substantial' nuclear offer in return for US lifting sanctions [Was barbaric Saudi Arabia—whose citizens were more involved in the 9-11 attacks—the wrong ally all along?]

07.19 “The Task Ahead Is Enormous, and There Is Not Much Time” [Read this and learn. Or read Donald J. Trump (@realDonaldTrump) | Twitter and/or President Trump (@POTUS) | Twitter. Are you serious? Or are you in hideously criminal denial?]

07.18 Foreign purchases of American homes plunge 36% as Chinese buyers flee the market

07.18 There are 16 million slaves around the world making our stuff

07.18 ‘No rioters, only a tyrannical regime’: Thousands of Hong Kong seniors march in support of young extradition law protesters [Most people around the world have more in common with these Hong Kong Chinese protestors than with the ignorant people at Trump rallies]

07.18 Dozens Arrested as Over 1,000 Jewish Activists and Allies Shut Down Entrances to ICE Headquarters Demanding Closure of Trump Detention Camps [Obviously these are not the immoral and less educated right-wing jews who support Netanyahu, Trump and ICE, and who slowly exterminate Palestinians when no one is looking]

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  Print view: Thinking About Accounting
COMMENTARY:

Thinking About Accounting

by Fred Cederholm
The government and the legislative/ regulatory arms of the government have been the pimps for this new “black is white” snow job of the “opposites.” Governmental (or regulatory) accounting has become a terminal practice of misrepresentation.

I’ve been thinking about accounting. Actually I’ve been thinking about 2007/ 2008/ 2009/ 2010/ and 2011, the practice of accounting, the economy, business, government, and realities. Accounting is more than the collection of numbers on a few sheets of paper. Accounting has a long history of “telling what is what” at any point in time. It is supposed to be consistent, verifiable, and immune from manipulation. Au contraire, mon ami, au contraire... you might TH*NK... How does that old saying go? “Figures don’t lie, but the liars sure can figure.” Please read on...

You see when I was in graduate school in business at the University of Illinois working on a Master’s Degree in “Accounting Science” in the late 1970s. The U of I had the top accounting school in the entire US. I took the required colloquium in accounting “theory” with the brilliant Professor Park. We never knew what path (or subject) he was going to attack in any one of his class sessions. The criminal cases we covered and “discussed” seemed so disjointed and the perpetrators usually walked away initially with MILLIONS (remember that this over thirty years ago when a million was a big deal). If they were convicted at all, it usually had nothing really to do with the faulty accounting... well not really as the game played out. It was the “activity” adjuncts that nailed their sorry butts to the wall in the years later. Still... the accounting was critical to the frauds, the crimes, and the misdemeanors. And does surface prominently when the redress is sought, and the guilty parties are finally convicted.

Professor Park’s final exam for the class NONE of his students truly understood was basically three questions: “Is accounting an art? A science? And, Why?” It was an evening exam so Park told us we could take as much time as we wanted. Most of the grad students were baffled and were mad as HELL. During the last weeks of the class, I felt I had an idea about what “theory” Park was working towards in his advanced accounting theory colloquium. I started out defining “art” as a man made creation, a thing of beauty, an often misunderstood abomination, something whose value was different for each person. Yes, accounting might be construed as an “art.” But, there was far more...

Accounting was also a “science” in the sense that there are rules and natural consistencies which are cumulative --- that build upon each other. These can be stated and must be observed if the financial statements are to work for one and all of the users. There are a balance sheet with assets and liabilities, and an income statement which must work in unison to tell the complete story of any entity over time. There are debits and credits which must be equal in value. A reading of the financials should be similar in interpretation to each of multiple readers, or something is amiss. Accounting is really a language --- it is the language of business. The purpose of a language is to communicate. Its unfolding should divulge the same information to each of the different people who read and study its tale of what occurred in the time frame described. TH*NK about THAT in light of the events of the past years.

We have dug ourselves into a deep hole of debt. Our concepts of assets and liabilities have completely lost their way. Our money is backed only by a liability, and as such is no asset --- although there is still the across the board attempt to value all things in terms of money! Does that mean that all things are liabilities? He who owes the most wins? That has become the mantra of Wall Street and the investment lending community. Would the investment bankers have been so successful in riding this nation (and the world) into the ground were it not for this mishandling of the accounting behind the story? Would they have been able to market their derivative investments so successfully where opposites rule our TH*NK*NG and compromise our evaluative powers?

Trust me... there is no new math, no easy new path to riches, and NO new accounting which is not in reality criminal in intent. There are clearly some debits or credits missing in the financial statements we have been given to hype the most recent boom, bubble(s), fraud(s), and governmental policies. Things are about to change, they have too... The time honored truths which came from centuries of valid accounting information are going to resurface in this coming year, or year(s). This happens after every bust in history. We are only just beginning to be shared the accounting (black) magic of the Federal Reserve Bank. The bailout was not the TARP of $800 BILLION used to purchase and warehouse the bad (as in worthless) paper assets of the financial community. It will prove to be far more than the MULTIPLE TRILLIONs in electronic money actually showered world-wide by the FED. Off the books may have been the way of the past, but it will NOT be the fix of the future!

The government and the legislative/ regulatory arms of the government have been the pimps for this new “black is white” snow job of the “opposites.” Governmental (or regulatory) accounting has become a terminal practice of misrepresentation. Governments operate from an income (loss) statement only presentation of their situations. There is no balance sheet with the comprehensive statements of the assets and liabilities. They are at best package a statement of changes in liabilities as “their balance sheet.” It doesn’t work, but why should it have to, it is for the government??? The checks and balances are simply not there. Our only hope for a revelation of the whole accounting behind the story on page one of what has happened can lead us to a remedy, a fix, and a return to real prosperity. Watch the news and how accounting will prove at the center of all of it. We will be in for quite a year... CHEERS!!!

I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.


Copyright 2010 Questions, Inc. All rights reserved. Fred Cederholm is a CPA/CFE, a forensic accountant, and writer. He is a graduate of the University of Illinois (B.A., M.A. and M.A.S.). He can be reached at asklet@rochelle.net.



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This story was published on December 27, 2010.

 

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