Bidgood of Martham near Great Yarmouth had faced a driving ban of up to 56 days after he admitted breaking the 70mph limit at 7. Right, then. The brouhaha over the hits to earnings from the new healthcare law that companies are announcing is much ado about very little. First of all, the charge is an estimate of future costs and will have no immediate impact on cash flow. And the estimate is unusually large because the accounting rules require costs that would otherwise be reported in the future to be reported now, simply because they are the result of a change in tax treatment.
The real cost will be spread out over many quarters. More importantly, the hit is the result of a loss of a major taxpayer subsidy. Maybe it made sense before to provide that. But given all the concern about the federal deficit, it seems to me that asking shareholders to bear a bit more of the burden for retiree drug benefits is hardly unfair.
Of course more must be done, but the law will provide a big impetus to those efforts. Hopefully, all this will become clearer as a result of the hearings Rep. Skip to content Posted on November 6, by Caleb Newquist. Related Posts. Before you go! Are you Looking for a fresh accounting career opportunity? Going Concern now has thousands of open accounting jobs. Take a look β click here!
