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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

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Mail Call, 4/24/07
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Posted by: Jack Ciesielski 4/24/2007 5:15 AM
Referring to the bit I wrote on the Grant Thornton survey on the expected usage of Statement 159, reader Patricia D. had this to say about my comment that it seemed strange that "14% of those surveyed said they'd use Statement 159, but only 5% said they'd early adopt 157" - strange in that you can't do an early adoption of 157 without simultaneously adopting 159.

Patricia points out that "the article didn't state that the 14% were expecting to adopt 159 early. Couldn't it be that the remainder of respondents who are planning to make use of the fair value option but aren't planning for early adoption with standard 157 are just going to wait for the effective date?"

Right she is. In all the excitement surrounding Statement 159 (excitement for some of us, anyway) I didn't take the article the right way. It really didn't say that the 14% were early adopting 159, just that they were considering adopting it. On the other hand, it seems a bit surprising to me - based on the buzz surrounding the topic lately - that only 5% of those polled said they were considering early adoption. I guess it depends on who you're polling -but there's no additional color at this time on the Grant Thornton press release web page.
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