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Following the World Trade Center's destruction, airlines,
hotels, insurers and other financial services companies wrestle with
financial reporting issues related to the disaster. In response,
FASB's emerging issues task force takes tentative positions on when
financial statements should classify as extraordinary certain losses
or other costs related to the incident, when to recognize such losses
or costs and whether financial statements should provide additional
information about the attack's economic consequences.
(www.fasb.org/eitf/issue01-10.pdf)
The Financial Executives International and the National
Investor Relations Institute together issue best practices to help
companies comply with SEC Regulation FD, which requires them to share
earnings guidance and other material information equally with all
market participants. For example, according to one recommendation, a
company should offer as much guidance in its quarterly news releases
as it is comfortable providing.
(www.niri.org/publications/alerts/EA091001.cfm)
