Word: accounting
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...place of one issued by a specific nation - in other words, the dollar. "The frequency and increasing intensity of financial crises," Zhou said, "suggests the costs of such a system to the world may have exceeded its benefits." Zhou recommended turning Special Drawing Rights (SDRs), the unit of account used by the International Monetary Fund (IMF), into the premier international currency. Then a U.N. panel of economists led by Joseph Stiglitz, the Nobel laureate, concluded that a reformed financial system with a new No. 1 international currency would help bring greater strength and equity to the global economy. Stiglitz told...
...Though it would have been a good time to do so, the letter, the first real direct communication (other than quarterly account statements) we ever received from Chais, did not mention Madoff but just that "the relevant brokers" had been notified, as if there were others besides Madoff - which there were not, as we all learned six months later. It certainly didn't mention that Chais was just pretending to be the great Wizard of Wall Street. He did, however, make it clear that anyone was "free to withdraw part or all of their money" at quarterly withdrawal dates, which...
...Martin’s goal broke Virginia’s scoring streak and changed the tone of the game, showcasing the resilient talents of the Crimson. Harvard appeared to be re-energized, especially sophomore Jess Halpern, who bounced back from yesterday’s scoreless game against Penn to account for all of the Crimson’s last four tallies. Not only did Harvard perform on par with UVA in the second half offensively, but the Crimson also signifcantly improved defensively, giving up only three of the 13 goals in the last period. “I think that...
...change in the way banks have to account for these special purpose entities will mean great danger for their capital ratios," says corporate accounting expert Robert Willens...
...Edwards, who made his name and fortune by inventing an inhalable tuberculosis vaccine, began teaching this course to inspire students to think outside the boundaries of academic disciplines, with the goal of demonstrating how a specific idea might be transformed into reality, taking social, cultural, and economic concerns into account. Students need not actually follow through on these development plans, although many do. Lebônê, the project to bring sustainable lighting solutions to Africa that recently won a $200,000 World Bank grant, was born in Edwards’ class. Students are free to choose from a variety...