US backs international standards
Many on Wall Street have welcomed the SEC move
US companies could have to use international accounting standards by 2014, under a proposal put forward by the Securities and Exchange Commission.
The five SEC commissioners proposed a timetable for the switch from US standards, known as GAAP.
US companies could have the option of using international standards in 2010. The SEC would then decide in 2011 whether to make it mandatory from 2014.
Analysts welcomed the proposal as necessary to increase transparency.
An international set of accounting standards enables investors to see how much money companies are making, regardless of where they are based.
Most large publicly listed companies already conform to international standards.
Supporters of the switch to international standards had argued that the need to conform to US accounting standards deterred some foreign companies from listing on US stock markets.
To read the Whole Article Go to:
http://news.bbc.co.uk/2/hi/business/7585552.stm
Oh yes.....lets make it easier for Foreign Investors to Invest and to take over American Companies....lets just make them World Companies....lol
Some one Shoot me...I am going to put my Eye Patch over my Good eye for awhile...
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"But war, in a good cause, is not the greatest evil which a nation can suffer. War is an ugly thing, but not the ugliest of things: the decayed and degraded state of moral and patriotic feeling which thinks nothing worth a war, is worse. When a people are used as mere human instruments for firing cannon or thrusting bayonets, in the service and for the selfish purposes of a master, such war degrades a people. A war to protect other human beings against tyrannical injustice – a war to give victory to their own ideas of right and good, and which is their own war, carried on for an honest purpose by their free choice – is often the means of their regeneration. A man who has nothing which he is willing to fight for, nothing which he cares more about than he does about his personal safety, is a miserable creature who has no chance of being free, unless made and kept so by the exertions of better men than himself. As long as justice and injustice have not terminated their ever-renewing fight for ascendancy in the affairs of mankind, human beings must be willing, when need is, to do battle for the one against the other." - John Stuart Mill
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