2007: time to simplify

摘要

The US is on the road to simplifying US GAAP and on this the two most influential standard-setters in the world seem to be on the same page. Both the US Financial Accounting Standards Board (FASB) and the US Securities and Exchange Commission (SEC) recognise that the complex rules-dominated system of accounting and disclosure that has evolved in the US may not be a viable option in the long run.