In aiming to make financial statements more meaningful, will FASB instead make them indecipherable?
By mid-summer, a total of 123 companies had cranked out some 574 pages of comments,...
concurrently with framing its mission and scope. In the PSWG, the opposite was done: It gave specific definitions to the terms it used during the previous five months' deliberations as very nearly its last act, making the 'meaning' of its workproduct one further point of negotiation."
I have nothing against standards, mind you. I only question who should set them. Why not consumers instead of engineers?
Here again I turn to one of my sources: "There is nothing really wrong with C12.19. The problem lies not in the standard itself, but in the amount of 'wiggle room' that a number of participants demanded hanging onto it."
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