Citing “widespread complaints of information overload in financial reporting,” reformers would allow companies to pick and choose what to disclose. The newly nominated chief of the Small Business Administration is a business founder, community bank chairwoman and a Latina. Finance and accounting staff may need to do some self-investigation to avoid an existential career crisis. Whoever first decided to link performance measurement to budgets may have done more damage to business effectiveness than anyone else in history. Chuck Stevens had been finance chief of the General Motors North America unit.
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