Because of this fasb is considering allowing

Reference no: EM131018975

The readings for this week talk about restatements and touch on a topic called "dark periods". This is the time it takes a company to restate their financial statements after determining that a material misstatement has occurred either through error or a change in accounting principle. Although most restatements happen within 3 months some can take up to 9 months or longer. During this time investors are in the dark as to the true financial health of the company in question until they can see their restated financial statements. Because of this FASB is considering allowing companies to just do enhanced disclosures for some errors instead of going through the full restatement process. As an investor, do you feel this is a good idea? Why or why not?

Reference no: EM131018975

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