The Shadow Financial Regulatory Committee urges theSEC to adopt a rule as soon as possible and no later than April 30, 2008 that will give all issuers a choice between using IFRSor U.S. GAAP for their financial statements.

Much of today's business world evolves around values that do not appear on balance sheets.

Undersecretary of the Treasury for Domestic Finance Peter R. Fisher discusses nonfinancial indicators.

Peter J. Wallison introduces the nonfinancial indicators conference.

In recent years, accountants have begun to recognize that financial statements prepared under generally accepted accounting principles (GAAP) cannot adequately communicate the value of companies that use internally generated intangible assets--such as software or pharmaceutical designs--to produce their revenues and profits. Since 80 percent of the value of the...

The Enron scandal has raised questions about the quality of the Generally Accepted Accounting Principles (GAAP) that are at the foundation of the accounting system in use in the United States. Meanwhile, the SEC’s insistence that GAAP is superior to the International Accounting Standards (IAS) used in Europe...

Today's knowledge-based economy requires an entirely new system of assessing the value of companies--a system tapping the vast communication capabilities of the Internet.

As Internet technology advances and the demand for "real time" information becomes more prevalent, annual corporate financial disclosure statements are becoming less relevant and less useful to customers and investors.