Financial Reporting


FINANCIAL REPORTING

A recent study by the Financial Executives Institute says the overall quality of corporate financial reporting is high, with relatively isolated, but significant, deficiencies. For example, in 2000, the earnings restatements of only 10 companies caused almost the entire decline in market value ( www.fei.org/download/QualFinRep-6-7-2k1.ppt ).

New forms of deceptive financial reporting are misleading investors, according to SEC Commissioner Isaac C. Hunt, Jr., who also says the agency is monitoring the effects of regulation FD on corporate disclosure and will, if necessary, amend the rule to stimulate the flow of information to the public ( www.sec.gov/news/speech/spch497.htm ).

SPONSORED REPORT

Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TAX PRACTICE CORNER

More R&D tax help

"Can I use the R&D credit?" PATH Act enhancements make the credit more attractive to a wider range of taxpayers.

QUIZ

Learn to choose between ‘who’ and ‘whom’

Writers can stumble over who and whom (or whoever and whomever). If you write for business, this quiz can help make your copy above reproach.