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FAS 157 is stupid
There. I said it. Now this venture capitalist can be the punching bag of auditors everywhere. As I type these words today, an accounting rule called FAS 157 is going into effect — to the delight of no one. Well, that’s not entirely true. The accountants are happy, because they’ve once again found a way to charge their clients even more fees. And one day the lawyers might be happy as well, because I believe… Continue Reading