Ralph Walters on harmonization
Article Abstract:
International Accounting Standards Committee (IASC) chair Ralph Walters who heads the subcommittee which drafts proposals for financial statements comparability to deal with the complexities of the increasingly internationalized securities and business markets. Walters believes that harmonization is necessary because standard national financial statements are virtually useless; financial markets in more regulated countries are threatened with a loss of market share; and multinational corporations must prepare multiple reports for different nations they do business in. The advantages to harmonization include: increased relevance and reliability of financial statements; cost efficiency; and increased coherency of information to international investors.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1989
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The coming crunch in employee benefits
Article Abstract:
Employee Benefit Research Institute Pres Dallas Salisbury believes that a recent Financial Accounting Standards Board (FASB) ruling on post-employment benefits will significantly affect some companies by reducing reported per share earnings by 30% to 35%. The ruling would require companies to account for all or part of unfunded commitments for post-employment benefits other than pensions on balance sheets and income statements. Salisbury considers other related issues, including: the effect the ruling will have on healthcare benefits; how Congress will be involved in the issues; how benefits costs will rise; and how companies can control benefits costs.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1989
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Comment about this article or add new information about this topic:
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