Doubts from the italian "members"

Fernando Maior fmaior at
Thu Apr 18 13:02:41 EDT 2002

Marta Rosso wrote:

> On Thursday 18 April 2002 15:38, you wrote:
>>>-----Original Message-----
>>>>4) Why can't we see the financial entries / expenses of LPI (which
>>>>always points back to the problem of not being members)?
>>>We do release financial information. As a non-profit, our financial
>>>records *must* be available for public examination. I will talk to our
>>>Treasurer to see how they have been made available.
>>In truth, this is a valid criticism.  I know that we've made some financial
>>details available in the past, but to the best of my knowledge we have not
>>been doing so consistently.  I don't know that we as an organization have
>>found the comfort point between disclosing too much information and not
>>disclosing enough.  As we accelerate the development of our international
>>affiliates I think we should all have some standard for both internal and
>>external disclosure of our financial status.
>>As I give the subject more consideration, I'm wondering if it might be
>>productive to setup a seperate finacial working group to define the
>>standards for internal and external financial disclosures.  Marta, I see
>>that you have a degree in economics.  I've got an MBA but my focus was on
>>strategic management and not accounting.  Perhaps working together we can
>>figure something out? :)  Anyone else with econ, accounting, or a business
>>degree interested?
> My focus was on monetary policy and I hate accounting. Anyway, I can help if 
> it is needed...
> I don't know much about different international accounting standards, buth I 
> would like to learn.
> Marta

May be we can look at the laws for each country where we have LPI 
affiliates: probably, most of them should have guidelines about "What 
must be showed" in our case.

The *big* problem is just make it clear what is the meaning of each term 
for each country. For example, the way "gross income" is accounted may 
be different for each country, some of them including this or that.

I am not a technician on that issue, but if someone ask me, I would like 
to do it simple, with just enough information to not get it difficult to 
one to understand and yet be legal. That is truly hard to acquire.

Also, is it needed to have separate info for each LPI affiliate? On 
Brazil, the answer is *yes*. And, at last, may be it is a good idea to 
talk to someone who actually works as an accountant, instead of trying 
it by ourselves.


Fernando Maior
Infokeep Informatica Ltda
fmaior at
+55+31 3282-7009

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