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Thread: The Bailout worked? (AIG = Government Profit)

  1. #31

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    this + the interest on the debt accrued for the bailout. TARP was not done with cash on hand - it was a loan from a loan. Lulz...stupid world...

    Quote Originally Posted by nobody's_hero View Post
    Well, let's see. That's about a 12.5% profit in about 4 years and I'm just gonna make a ball-park estimate here, but let's say the dollars loses about 3 to 4% of its purchasing power each year. So, then, well did they really profit or did they just break even?
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  3. #32

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    Quote Originally Posted by bxm042 View Post



    Absolutely. At least according to GAAP you should. (Properly amortized and all that, I'm no accountant).
    GAAP says the expense should be recognized in the period in which it is incurred, if memory serves.

  4. #33
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    Quote Originally Posted by anaconda View Post
    GAAP says the expense should be recognized in the period in which it is incurred, if memory serves.
    Shrug. If you're an accountant, you tell me. I'm taking other people's word for it, currently. Refresher course:

    http://www.ifrsaccounting.com/ifrs-pensions.html

    Recognition of a minimum liability on the statement of financial position to at least the unfunded accu-mulated pension benefit obligation
    Sounds like they'd need to recognize at least the minimum liability, as it's obviously unfunded :P
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  5. #34

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    Quote Originally Posted by bxm042 View Post
    Shrug. If you're an accountant, you tell me. I'm taking other people's word for it, currently. Refresher course:

    http://www.ifrsaccounting.com/ifrs-pensions.html



    Sounds like they'd need to recognize at least the minimum liability, as it's obviously unfunded :P
    I believe unfunded liabilities are required to be disclosed in financial statements. But only an appropriate portion would be expensed in the current period, per the income statement.

  6. #35
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    Quote Originally Posted by anaconda View Post
    I believe unfunded liabilities are required to be disclosed in financial statements. But only an appropriate portion would be expensed in the current period, per the income statement.
    I'm skimming through Wiley GAAP 2010: Interpretation and Application of Generally Accepted, Chapter 18 on google books (page 953)...

    it is a complicated subject, but from what I've read, it's complicated precisely because there is supposed to be a smoothing of the obligation... if the losses were recognized only when they occurred, that chapter would be about 3 sentences long
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

  7. #36

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    Too bad they did not invest that $1 trillion in Bitcoins back in 2009. It was worth less than a penny per Bitcoin back then. Today it is worth over $13 per Bitcoin. That would have been quite the return.
    Definition of political insanity: Voting for the same people expecting different results.

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