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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Boca_PETE who wrote (10137)	12/10/1999 4:05:00 PM
From: Wally Mastroly	Read Replies (1) \| Respond to of 15132

Pete: THE PARTY'S OVER? - FASB update: A radical shift in accounting Plus: IPO risk, big alliances and new execs By Kathleen McBride, CBS MarketWatch Last Update: 12:48 PM ET Dec 10, 1999 Personal Finance News Join the discussion NEW YORK (CBS.MW) -- What will happen if the FASB eliminates pooling-of-interests accounting for mergers and acquisitions? CFO magazine reports on the passionate debate that has pitted technology executives and venture capitalists against the Financial Accounting Standards Board (FASB) and its chairman, Edmund L. Jenkins. "We're talking about a financial model that's creating the highest level of confidence in capital markets in the world," Dennis Powell, controller of Cisco, (CSCO: news, msgs) told CFO. Tech and venture execs contend that eliminating pooling would lower company valuations. Other CFOs favor the purchase accounting method. Still others say both have flaws and should be scrapped in favor of totally new standards. According to CFO magazine, the FASB is determined to make the decision early next year. - * See full story below: cfonet.com