Any effort on behalf of a separate GAAP is likely to meet with resistance from FASB chairman Robert Herz, however. He says he wants to stick with one GAAP because "users don't want to have to learn two languages," and because many private companies ultimately go public. However, Herz concedes that the new GAAP format "may have to be simplified" for private companies. — A.S.
Reader CommentsDisplaying 3 of 4
Natasha Glodek
Feb 10, 2009 2:09 PM ET
Link to proposed format
Proposed financial statement presentation/arising developments can be found on IASB/FASB … more
J Brandon Davis
Feb 15, 2008 7:48 PM ET
Where Can I See Them?
Does anyone know how / where I can see these proposed statements? Can someone post a link?
tim fitzgerald
Feb 8, 2008 9:02 AM ET
changing the financial statements
Hello, I have no idea what the FASB is thinking. They should give more direction on what should be in the lines not … more
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