OTHER NEWS - July 16, 1992
From Times Staff and Wire Reports
Accounting Board Agrees to Change Investment Rule: The nation’s rule-making board for accountants agreed to broaden a requirement that companies value their investments at market value. The proposal by the Financial Accounting Standards Board would affect a company’s stated net worth, but not its profits. The measure requires companies to revalue investments according to their changing market value. Excluded are assets that the buyer intends to hold until maturity. FASB expects to vote on the proposal later this summer after a period of public comment.
