We published and widely distributed Protecting Your Earnings because exploration and production companies as well as our natural gas and power industry readers must be aware of the critical impact of the FASB ruling. For fiscal years starting January 2001, the Financial Accounting Standards Board s Rule 133 is now in effect. The rule requires increased disclosure of a company s hedging position. From now on, derivative gains or losses will be recognized in reported earnings. FASB 133 requires a new level of disclosure and accounting tasks, adding volatility to reported earnings and equity on the balance sheet.
Data can no longer be hidden in the footnotes, say accounting experts.
That s why data quality matters more than ever, according to the report. What s more, sharing that data with the right people in the right departments, from trading to accounting to the executive suite, and in real time, has become critical. Click here for a free copy of the report. Founded in 1982, FAME has been a leading provider of time-series data and database management services to the financial securities industry. With offices in Houston, London, Singapore and Princeton, the FAME Energy division, formerly known as Saladin, provides energy market data expertise through analytical tools, information, enterprise-wide data management, spreadsheets, and consulting to the oil, gas, power, and petrochemical industries.