Debate Rages Over New Accounting Rules

By RACHEL BECK
AP Business Writer
NEW YORK

Corporate America keeps complaining that new regulations forcing companies to assess their accounting procedures are a big waste of time and money that could be better spent elsewhere.

Shareholders at Eastman Kodak Co., MCI Inc. and Chiron Corp. might beg to differ, though. They are seeing firsthand how those federal compliance rules can push companies to reveal poor financial reporting practices that should be stopped.

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