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- Title
How well does the FASB consider the consequences of its work?
- Authors
Beresford, Dennis R.
- Abstract
This article presents a review of the Financial Accounting Standard Board (FASB) and its ability to accommodate various stakeholders. The author, former chairman of the board, believes the board receives unfair criticism from the business community that its standards ignore their overall impact. He explains that the board's responsibility is to balance various interests in the overall context of what is best for the public. He also states that cost-benefit analysis is inconclusive and that, ultimately, informed judgments must be made.
- Subjects
FINANCIAL Accounting Standards Board; DECISION making; ACCOUNTING standards; ASSOCIATIONS, institutions, etc.; AUDITING standards; ACCOUNTING methods; SOCIETIES
- Publication
Financial Executive, 1989, Vol 5, Issue 2, p24
- ISSN
0895-4186
- Publication type
Article