FASB GROWS NEW FANGS

摘要

Skittish investors, who now hammer stocks if quarterly earnings are off as little as a penny a share, may soon be in for a shock. Earnings for much of Corporate America will soon become less predictable—maybe a lot less so—because of an accounting rule about derivatives that takes effect for some out-fits as early as July 1. "We're in a different world," says Ira G. Kawaller, a consultant and a member of the derivatives implementation group of the Financial Accounting Standards Board (fasb). "It's a virtually foregone conclusion that there will be more earnings surprises."