Corporate
Aug. 23, 2010
Accounting Proposal Sparks Uproar
A proposal by the Financial Accounting Standards Board to change the way companies disclose the potential costs of litigation has drawn sharp criticism from the legal and business communities, prompting the board to extend its comment period on the policy until Sept. 20.
Daily Journal Staff Writer
A controversial proposal by the Financial Accounting Standards Board that would change the way companies disclose the potential costs of litigation to investors has drawn sharp criticism from the legal and business communities, prompting the board last week to extend its comment period on the policy until Sept. 20.
The Connecticut-based FASB, which establishes financial accounting standards for public a...
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