Wednesday, August 22, 2007

SEC Considers Sweeping Changes in Rule-Making

  • SEC Proposal

  • The Securities and Exchange Commission has issued a call for comments on numerous changes to present financial reporting. Among issues considered: principles-based standards, use of exceptions and "bright line" provisions in standards, cost-benefit analysis of current financial standards and the impact of international accounting standards on the usefulness of present American GAAP.

    The SEC has taken on an ambitious project; I wish them well. One question: how will the upcoming implementation of XBRL affect the issues which the SEC is considering?


    Post a Comment

    << Home

    My blog is worth $7,903.56.
    How much is your blog worth?