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"We want to make sure the concerns of private companies and small public companies are being heard."
One of those concerns is that the cost of the new rules, especially for small firms, is not weighed against their benefits, says Ilene Persoff, an accounting professor at the C.W. Post campus of Long Island University. "Some of the GAAP rules are so costly for small businesses that they are looking at alternatives to the activity that triggers the disclosure, rather than implementing the new rules to account for it," she says.
CFOs welcome the committee, but some remain skeptical about its impact...
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