A BETTER WAY TO KEEP THE BOOKS?

摘要

In the latest example of the waning financial leadership of the U.S., the Securities & Exchange Commission wants to dump the country's complex accounting rules in favor of a simpler set of international principles. It's a major step toward a single worldwide standard-a necessity for creating seamless global markets. But adopting the model, which is relatively new and untested, has its own pitfalls. Junking the U.S. rules, known as generally accepted accounting principles, or GAAP, would have seemed preposterous a decade ago.