The Financial Accounting Standards Board’s Russell Golden shepherded a handful of sweeping rule modifications throughout his tenure as chairman, however for some traders, he didn’t go far sufficient.
Mr. Golden, whose seven years as chairman come to an finish Tuesday, helped put firm working leases on the stability sheet and devised a uniform method to how corporations should acknowledge income. He additionally rankled the banking world with a difficult rule on accounting for anticipated credit score losses.
However issues persist in navigating accounting requirements. Some traders argue the U.S. rule maker’s longtime deal with lowering compliance prices has lowered the standard of company data. The various methods U.S. accounting guidelines differ from worldwide requirements create complications in evaluating corporations.
“I had a singular time interval by which we finalized a considerable quantity of change and enhancements to monetary reporting,” Mr. Golden stated.