The new financial statement presentation format

In any proposed merger or acquisition, the buyer must critically examine the target company's financial statements. But the way financial statements are presented can frustrate a buyer, who needs clear and precise information about the target company. Now the Financial Accounting Standards Board and the International Accounting Standards Board are working on a joint project to improve how financial statement information is organized and presented. The authors look at this work and give some examples of the new financial statement presentations. © 2011 Wiley Periodicals, Inc.