Yesterday's Wall Street Journal had a brief article describing the states' instructions on how to count a job as "created or saved" under the stimulus bill. Basically, a state need only use its best judgment. Not exactly helpful for those states concerned about accurate measurement and a worry for those of a more cynical bent.
For those of us who live and breathe fair and accurate performance measurement, as laid out by the Global Investment Performance Standards (GIPS), this guidance on "created or saved" is almost heretical. An investment performance measurement equivalent would be arbitrary inception and closed dates, a whimsical inclusion/exclusion policy, and/or capricious cash flow accounting.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment