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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
The US accounting standard-setter moved to finalize a project that aims to simplify and improve loan loss financial reporting rules.
The Financial Accounting Standards Board wants to streamline guidance in the wake of concerns that a quirk in its rulebook means banks “double count” losses on healthy loans when they buy or merge with another bank. The board told its staff Wednesday to draft a final version of the plan.
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Accounting Fix for Loan-Loss ‘Double Count’ Approved by US Board – news.bloombergtax.com
