Home / Expert Answers / Accounting / when-the-fasb-issues-new-pronouncements-the-implementation-date-is-usually-12-months-from-the-date-pa427

(Solved): When the FASB issues new pronouncements, the implementation date is usually 12 months from the date ...



When the FASB issues new pronouncements, the implementation date is usually 12 months from the date of issuance, with early implementation encouraged. Karen Weller, the controller, discusses with her financial vice president the need for early implementation of a rule that would result in a fairer presentation of the company's financial condition and earnings. When the financial vice president determines that early implementation of the rule will adversely affect the reported net income for the year, he discourages Weller from implementing the rule until it is required. Which stakeholders might be affected by the decision against early implementation?



We have an Answer from Expert

View Expert Answer

Expert Answer


We have an Answer from Expert

Buy This Answer $5

Place Order