>>I don't believe that any laws - new or old - are needed as regards Accounting. But I do believe that Accounting is extremely cut-and-dried in its proper form and I'd bet that GAAP essentially reflects this.
>>I believe that people like President Bush using differences of accounting opinions as reasoning for his or VP Cheney's situations only encourages Accountants towards more "creative accounting" rather than more strict by-the-rules accounting.
>>So if Accountants got back to real genuine accounting and if their professional associations duly ENFORCED such practises there would be no trouble, laws or no laws.
>>
>>Of course it is hardly in the interests of those with money to push for such "reform", is it?!?! Nor is it in the interests of Accountants generally, who now can be viewed as programmers used to be viewed (magicians who can pull great stunts for the benefit of the corporation) and collect much bigger bucks too.
>
>I really doubt that accounting is that cut-and-dried, but then again, I am not an accountant. And before we start bashing all accountants, there were some in Arthur Anderson who were on record as being totally against what was going on at Enron. I think a large majority of accountants are honest.

Chris;

Over the years my wife and I have met many accountants through contacts at our workplaces. Some of our friends are married to accountants. We know six accountants to be exact each of whom was a CPA, and it is interesting to note that by age 45 each of them had a nervous breakdown. They are in other fields today.

Tom