To Add Zest, Twelve Blogs Tries "The Accounting Onion"

Big Bath for GM, Citi and Merrill Lynch

Former accounting faculty Thomas Selling introduced the Accounting Onion this summer and the Onion, though not as humorous as its political counterpart, has provided valuable commentary on financial accounting and auditing issues. Recent posts include taking the FASB and SEC to task for the SFAS 157 and "fair value" accounting (see link in title) and the return of "big bath accounting" to large corporation financial statements (see link above).

Congratulations to Thomas for getting off to a great start. Watch for the third blog of the "Twelve Blogs" soon.