FASB's Crooch takes issue with FEI's CEO on financial statements.

From: Financial Executive | Date: May 1, 2006| Author: | Copyright information

In the President's Page (January/ February 2006), Colleen Cunningham asserted that general-purpose financial statements are trying to do too much. Instead, she specifically asserted that:

* Users are causing the FASB to require more information in the statements because disclosures outside the statements are erroneously perceived as not being as reliable.

* Financial statements should not include forward-looking information, nor should they try to provide a company's value.

* The primary purpose of financial statements should be to reflect management's stewardship to ...

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