Panelists of a SEC roundtable on fair value financial reporting clash over accounting provisions
Panelists of a Securities and Exchange Commission (SEC) roundtable on fair-value financial reporting yesterday were in disagreement over the accounting provision which is viewed as a reward for ‘deadbeats’ by some of the panelists.
Quite a few companies ‘are already making hay’ by using the provision in question, paragraph 15 of standard number 157, the Financial Accounting Standards Board (FASB)’s controversial new stricture on fair-value accounting, according to CFO.com.
See full Article.
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