If you don't remember fashions from the 1970s and 1980s, surely you've seen pictures: Polyester was the fabric of choice; guys wore Madras coats with wide lapels, had droopy moustaches and hair over their ears, and sported white shoes and matching belts, while women favored straight hair, slinky dresses and high-heeled boots.You're probably asking, "Whoa! What brought that to mind?"
You can blame last summer's unsolicited letter to the Financial Accounting Standards Board from Financial Executives International's Committee on Corporate Reporting and the Institute of Management Accountant's Financial Reporting Committee (available online at www.fasb.org).
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