Warren Buffett, the world’s greatest investor, has vowed that his derivatives
bets will come good, despite declaring a $1.6bn loss under new accounting rules.
He said the company’s derivative position would ‘sometimes cause large swings
in reported earnings’ now that changes in the net worth of derivative contracts
are being applied to quarterly earnings.
‘We are always ready to trade increased volatility in reported earnings in
the short run for greater gains in net worth in the long run,’ he said.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.