In this blog, we look at how the FASB Chief to propose accounting rule change will impact your business.
FASB Chief to Propose Accounting Rule Change
The Chairman of FASB is set to propose that bank regulators be allowed to make adjustments to the financial statements of banks in order to determine whether those banks have met capital requirements, while requiring that those banks report to the investing public according to GAAP.
Naturally, the banks are in favor of this, yet investors should pay attention to the financial statements and not the pronouncement of regulators that a given bank has met its capital requirements through some “adjustments” to its loan portfolio.
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