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[C2.] G.E. to Restate 3 Years of Income General Electric said it would restate income for the last three years because of technical violations of rules for accounting for gains and losses in derivatives contracts.
More stringent rules for accounting for stock options is another post-1990's reform that is being pressed on corporate America.
THE Securities and Exchange Commission voted last week to adopt rules for accounting firms that will impose restrictions on the consulting services auditors provide to clients.
A1 New Rules for Accounting The S.E.C. proposed rules to tighten standards on additional services accounting firms could sell to companies whose books they audit.
"But do we know that the data they're providing is true?" "We have a big problem in nonprofit data circles in general about the quality of data," he said, because "the rules for accounting for nonprofits are so lax".
Both are widely considered among the leading securities experts in the nation, although they have often found themselves on different sides of major issues like conflict-of-interest rules for accounting and financial-disclosure requirements.
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The accounting group, the Financial Accounting Standards Board, adopted new rules for the accounting of special-purpose entities, which are usually created to buy certain corporate assets.
It is likely that the standards board, which sets the rules for corporate accounting practices, will force companies to report options as expenses.
This year, he helped negotiate the legislation that rewrote the rules for the accounting industry.
The Financial Accounting Standards Board, an obscure but powerful authority that makes the rules for corporate accounting, is about to change that.
The Financial Accounting Standards Board, the arbiter of corporate America's bookkeeping practices, announced this month that it would devise new rules for options accounting over the next year.
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