Misleads

The Financial Accounting Standards Board (FASB) issued a proposal for public comment that would, among other things, eliminate the pooling of interests method of accounting for business combinations. The move is directed at enhancing economic accountability and could act as a curb on questionable transactions. As part of its public consideration of the issues, the Board also will hold hearings on the subject early next year in New York and San Francisco. Comments on the proposal are requested by Dec. 7.