As it prepares for a $34bn (£17bn) float, US private equity firm
Blackstone has dropped controversial
plans to book profits at the time of a leveraged buyout.
This move wiped out $595m from the company’s 2006 pro-forma earnings.
Originally, the group had planned to adopt a new fair value accounting
standard, which would have allowed it to treat some of its fees as though they
were options it acquired for nothing at the time of a buyout – allowing it to
record their value immediately.
But in a recent SEC filing the group said
it no longer planned early adoption of the accounting standard.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements