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November 1, 1997

Plain-paper hearing:

SSARS Hearing Yields No New Answers There is still widespread disagreement about when financial statements have to be compiled and the so-called plain-paper issue, according to Wanda Lorenz, chairwoman of the American Institute of CPAs accounting and review services committee. ARSC held a two-day hearing on these issues in August.

September 1, 1997

Edmund Jenkins

Financial Reporting Reformer to Head FASB The Financial Accounting Foundation chose Edmund L. Jenkins as the fourth chairman of the Financial Accounting Standards Board. His five-year term began July 1. Jenkins is well known to the financial accounting community as chairman of the American Institute of CPAs special committee on

August 1, 1997

Simplifying EPS

EXECUTIVE SUMMARY IN AN EFFORT AT SIMPLIFICATION, the Financial Accounting Standards Board issued Statement no. 128, Earnings per Share , to replace Accounting Principles Board Opinion no. 15 of the same name. The new statement simplifies EPS by eliminating primary EPS and common stock equivalents, replacing them with basic EPS.

July 1, 1997

ARSC plans public hearing

Public Hearing on SSARS no. 1 T he controversial issue of so-called plain-paper financial statements— “plain” because CPAs do not have to put their names on them—is being reconsidered at a public hearing. The American Institute of CPAs accounting and review services committee will hold a public hearing titled “The

February 1, 1997

Business Reporting: What Comes Next?

EXECUTIVE SUMMARY TO DEAL WITH THE RECOMMENDATIONS of the American Institute of CPAs special committee on financial reporting in Improving Business Reporting—A Customer Focus , a coordinating committee was formed to make sure the reports key recommendation on the development of a comprehensive business reporting model was addressed. THE FIRST