Technology Industry
Industry: Email Alert RSS FeedFASB to investigate financial reporting.
RCR Wireless News, September, 2001 by MOONEY, ELIZABETH V.
NEW YORK-Concerned about the reliability of information investors receive from corporations, the Financial Accounting Standards Board has set a Sept. 19 deadline for comments on its plans to investigate the situation and develop new rules in response. In one of two research projects proposed, the Board said it seeks to address the form and content of financial statements in reporting information about the financial performance of business enterprises, both publicly traded and privately held.
FASB hopes to join forces with the International Accounting Standards Board, which announced in July it intends to conduct a similar inquiry. FASB, headquartered in Norwalk, Conn., develops Generally Accepted Accounting Principals (GAAP). The Securities and...
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