Wednesday, August 25, 2010

ALERT!! the chairman of the FASB (Robert Herz) announced he would step down (2yrs before his term is to expire); NOT GOOD $$

· · Bank accountingin a surprise move, the chairman of the FASB (Robert Herz) announced he would step down (2yrs before his term is to expire); the move comes as the FASB considers a complex accounting rules overhaul re mark-to-market treatment of assets (the comment period for the new mark-to-market proposals are at the end of Sept).  Herz’s departure could complicate the FASB’s efforts to reconcile its rules w/the IASB.  WSJ 

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