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public conversation on accounting standards

How to Curb Short-Termism and Boost the US Economy

Haresh Sapra, Leon Carroll Marshall Professor of Accounting at Chicago Booth writes about the current situation where the United States is in the middle of an unexpected public conversation on accounting standards. Since 1970, public companies in the US have been required to report quarterly. The Securities and Exchange Commission is now considering changing that frequency to biannual reporting, and in December 2018 issued a request for public comment on the matter.

For the first time in years, policy makers are seriously reconsidering the rules on corporate financial reporting and the implications of these discussions could affect the US economy significantly.

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