The Securities and Exchange Commission voted to adopt international accounting standards for U.S. businesses. The rules, which aim to make it easier for investors to compare businesses operating in different regions, are already used in more than 100 countries, including all of Europe. If finalized, the SEC’s decision would phase U.S. companies into the accounting system starting next year, with all businesses aboard by 2014. (BusinessWeek.com)
The bottom line
August 28, 2008
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