Now that the controversy surrounding fair-value accounting rules is fading, accounting's standards-setting bodies are getting ready to deal with off-balance-sheet issues and loan-loss provisions, says James Kroeker, the Securities and Exchange Commission's acting chief accountant. When the International Accounting Standards Board and the Financial Accounting Standards Board release their new guidance on these issues, they will bring about major changes in financial reporting, he said.

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CFO.com, Bloomberg

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