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Debate Rages Over New Accounting Rules

Debate Rages Over New Accounting Rules

by Rick Turoczy on March 25, 2005

Corporate America keeps complaining that new regulations forcing companies to assess their accounting procedures are a big waste of time and money that could be better spent elsewhere. Shareholders at Eastman Kodak Co., MCI Inc. and Chiron Corp. might beg to differ, though. They are seeing firsthand how those federal compliance rules can push companies to reveal poor financial reporting practices that should be stopped.

And for investors all around, the exercise of having corporate controls fully analyzed may give them more trust in the numbers that appear on financial statements.

Given all that, this surely sounds like time and money well spent.

Debate Rages Over New Accounting Rules

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