• Home
  • Services
  • Blog
  • resources
  • Contact

Your Accounting Partner



Shafer CPA



Your Accounting Partner



Shafer CPA, P.C.



Accounting blog



News and Views You Can Use



Don't dumb down the cpa exam



February 26, 2016





As I was walking back from my mailbox the other day and flipping through my mail, I came across the Tennessee CPA Journal. As I looked at the picture and caption on the cover of the magazine, I groaned.


read more

4 Stupid FASB disclosures



January 2, 2016





The FASB notes that the purpose of its Disclosure Framework project is to “improve the effectiveness of disclosures in notes to financial statements by clearly communicating the information that is most important to users of each entity’s financial statements.” Why the Board didn't consider this years ago is baffling....


read more

Fair value overkill



December 15, 2015





Last week, Warren Buffet made an announcement that sent shockwaves through the capital markets. “Based in part on the recent decision by Initrobe to classify the fair value of its debt as level 1, Berkshire Hathaway today purchased all of the outstanding common stock of Initrobe (ticker symbol IN). We were also impressed by the company’s Level 3 rollforward, which gave me invaluable insights into the company’s cash flows and operations.”


read more

Is this the golden age of accounting?



December 10, 2015





Outside of shafercpa.com, Reddit is my favorite website. Besides the cat photos, weird stories, AMAs and breaking news, someone will occasionally ask a question that makes me think. Redditor /u/ CruJonez asked Reddit users, “What are we unknowingly living in the golden age of?


read more