Congressional pressure eventually caused FASB (the Financial Accounting Standards Board) to relax slightly their rules on mark to market accounting as applied to banks.
On April 2nd, after a bruising encounter with Congress, America's Financial Accounting Standards Board (FASB) rushed through rule changes.
In the meantime, the Financial Accounting Standards Board (FASB) clarified the rules and gave banks, in particular, a potential defense.
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That's when the U.S. Financial Accounting Standards Board (FASB) is expected to let companies that acquire others expense the goodwill, rather than amortize it.
The Financial Accounting Standards Board (FASB), which issues fatwas concerning accounting rules for corporations, has formally recommended that stock options be expensed as soon as they are granted.
Unfortunately, investors can also expect a tidal wave of accounting minutiae from the regulators, as the Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) get on the stick.
Which is why the Financial Accounting Standards Board (FASB) should hold its horses and pull back from enacting a rule that would require publicly traded companies to expense stock options.
In the name of "fairness, " preventing future Enrons, and increased oversight, Congress, the SEC and the Financial Accounting Standards Board (FASB) have piled burdens onto the economy that put entrepreneurship at risk.
Related to the entire discussion is the effect of the issuance of Financial Accounting Standards Board (FASB) Statement No. 157 "Fair Value Measurements, " which became effective for entities with fiscal years beginning after November 15, 2007.
It conspired with the Financial Accounting Standards Board (FASB) to implement mark to market accounting despite objections from the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve and the Treasury, which said it was wrongheaded and would lead to severe credit contractions.
Enron was allowed to do this because a task force of the Financial Accounting Standards Board (FASB) could not decide how energy contracts should be accounted for, explains Douglas Carmichael, the Wollman distinguished professor of accounting at Baruch College.
The IASB's position has been weakened by differences with the Financial Accounting Standards Board (FASB), which sets rules in America and which wants to merge eventually with the IASB (although a recent survey found only 24% of American finance executives supported this goal).
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