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Posts Tagged ‘Securites and Exchange Commission’

In a lawsuit against the Financial Accounting Standards Board (FASB) and the Financial Accounting Foundation (FAF) filed Wednesday, May 5, 2010, Silicon Economics, Inc., charges that that the FASB has illegally appropriated its intellectual property:  a proposed set of alternative accounting standards.  At stake are the accounting rules that could be used by over one million business and non-profit organizations that are not designated as SEC reporting companies (about 9,500).

SEI’s complaint seems reasonable, and I hope it prevails.

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