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Workshop Registration
The Reynolds Center has announced its 2009-10 free workshop schedule.
Select a workshop and register from the drop-down menu below.
Online Seminars
The Reynolds Center registration for Fall 2009 free online seminars.
Hooked on Kindle
By Chris Roush
Tracking the Business Behind the Tomato
By Jonathan Higuera
Five Questions with Bill Choyke
By Jonathan Higuera
Finding the Economy's Silver Lining
By Dick Weiss
Double Whammy: Oil and Housing
By Jennifer Hopfinger
Sarbanes-Oxley Disclosures Serve as a Boon for Business Journalists
By Michelle Leder
August 9, 2007
If July 30 came and went without you singing Happy Birthday, like the Singing CPA in this video, it's still not too late. Granted, it's kind of hard to sing to a piece of legislation. But for many business journalists, Sarbanes-Oxley, or SOX, was more than a piece of legislation. It was nothing short of a life-changing event.
OK, OK, maybe I'm overstating it a bit. But just think back to five years ago when many of the things that are now routinely disclosed, like a $1,000 physical at the Mayo Clinic that was recently offered to the chief executive of the department store chain Saks, never saw the light of day. Of course, it wasn't just perks that were hidden. Remember off-balance sheet obligations? Or deferred compensation? How about detailed disclosures on stock options?
All of these new disclosures have not only led to better business reporting, they've also helped create more efficient capital markets. Today, the information needed to make better investment decisions is more readily available. Without comprehensive information, investing begins to resemble playing the slot machines: you put your money in and you take your chances.
Of course, the downside is that much of this new information is still incredibly difficult to read and digest. Even though I've been doing this for years, my eyes still usually glaze over when I try to get through a footnote on financial instruments (aka derivatives) or leasing in a 10-K or 10-Q.
Of course, most of the people who are responsible for preparing the financial statements and accompanying footnotes say that the new rules only add to the complexity, which in turn makes it more expensive. That's the key reason that some people, including this journalist have been using to argue for a repeal of Sarbanes-Oxley. If that happens, however, business journalists, who are already suffering through various downsizings, won't be the only victims. The investing public and the markets will suffer too.
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Copyright © 2008 Donald W. Reynolds National Center for Business Journalism
The Reynolds Center has announced its 2009-10 free workshop schedule.
Select a workshop and register from the drop-down menu below.
The Reynolds Center registration for Fall 2009 free online seminars.
By Chris Roush
Tracking the Business Behind the Tomato
By Jonathan Higuera
Five Questions with Bill Choyke
By Jonathan Higuera
Finding the Economy's Silver Lining
By Dick Weiss
Double Whammy: Oil and Housing
By Jennifer Hopfinger
Sarbanes-Oxley Disclosures Serve as a Boon for Business Journalists
By Michelle Leder
August 9, 2007
If July 30 came and went without you singing Happy Birthday, like the Singing CPA in this video, it's still not too late. Granted, it's kind of hard to sing to a piece of legislation. But for many business journalists, Sarbanes-Oxley, or SOX, was more than a piece of legislation. It was nothing short of a life-changing event.
OK, OK, maybe I'm overstating it a bit. But just think back to five years ago when many of the things that are now routinely disclosed, like a $1,000 physical at the Mayo Clinic that was recently offered to the chief executive of the department store chain Saks, never saw the light of day. Of course, it wasn't just perks that were hidden. Remember off-balance sheet obligations? Or deferred compensation? How about detailed disclosures on stock options?
All of these new disclosures have not only led to better business reporting, they've also helped create more efficient capital markets. Today, the information needed to make better investment decisions is more readily available. Without comprehensive information, investing begins to resemble playing the slot machines: you put your money in and you take your chances.
Of course, the downside is that much of this new information is still incredibly difficult to read and digest. Even though I've been doing this for years, my eyes still usually glaze over when I try to get through a footnote on financial instruments (aka derivatives) or leasing in a 10-K or 10-Q.
Of course, most of the people who are responsible for preparing the financial statements and accompanying footnotes say that the new rules only add to the complexity, which in turn makes it more expensive. That's the key reason that some people, including this journalist have been using to argue for a repeal of Sarbanes-Oxley. If that happens, however, business journalists, who are already suffering through various downsizings, won't be the only victims. The investing public and the markets will suffer too.
Copyright © 2008 Donald W. Reynolds National Center for Business Journalism