By Arindam Nag, Reuters
U.S. accounting regulators urged corporations on Thursday to write their financial reports in “plain english” and shed complex jargon.
And they did not mince their words.
“Please communicate in plain English. Disclose whatever will help investors understand what is happening,” Scott Taub, deputy chief accountant at the Securities and Exchange Commission (SEC) appealed to a room full of accountants at a conference at New York’s Baruch College.
The SEC and the Financial Accounting Standards Board (FASB), the U.S. body that writes accounting rules, have recently launched a campaign to simplify U.S. accounting literature, to remove some of the ambiguity that have often led investors to misinterpret financial numbers.
For this complete story, please visit U.S. Corporations Urged to Write in ‘Plain English’.
