BusinessWeek - How to Fix Financial Reporting
http://www.bloomberg.com/bw/stories/2008-11-10/how-to-fix-financial-reportingbusinessweek-business-news-stock-market-and-financial-advice
An article long on principles, short on specifics. In general, there is a need for greater transparency in companies when it comes to their dealings with the capital markets. Companies have generally benefited from opening up to 3 of their 4 constituencies: customers, suppliers, employees, yet they tend to keep the 4th, the capital markets, in the dark. Derivatives should become more transparent, as should companies balance-sheets themselves. Suggestions include capitalizing off-balance-sheet assets, and standardizing financial reporting documents.
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