Commentary: Hey, Fasb, What's The Rush?Peter Coy
In Norwalk, Conn., the Financial Accounting Standards Board has kicked up another fuss. It's on the verge of setting new rules that will dramatically alter the way companies account for their use of derivatives--that is, financial instruments used for speculation or risk hedging. While FASB pronouncements are supposed to be "generally accepted accounting principles," these new rules are about as "generally accepted" as rain at a football game. In the interest of harmony, FASB should postpone them for at least a year, so affected companies have more time to suggest improvements and prepare for compliance.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Getting a Dog May Save Your Life, Especially If You’re Single
- The Questionable Math Behind Manafort’s Extravagant Home Renovations
- World’s Biggest Wealth Fund Wants Out of Oil and Gas