"ENHANCED BUSINESS REPORTING (EBR) WILL IMPROVE the quality of information companies provide so investors can make better decisions about a company’s situation and prospects.
EBR WILL HELP COMPANIES BECOME MORE EFFICIENT as the information that management monitors to optimize internal performance begins to form the basis for external reports, subject to reasonable limits for commercially sensitive information.
THE ACCOUNTING PROFESSION HAS A KEY ROLE to play in protecting the public interest and restoring trust in the financial reporting process. As EBR makes business reporting more transparent, it will strengthen the economy and protect investors.
Enhanced business reporting will help companies move beyond the earnings game, placing more emphasis on measures that give a better picture of their value, risks and opportunities.”
Robert Herz, CPA, Chairman
FASB, Norwalk, Conn.