July 28, 2006
Mr. Conrad Hewitt
Chief Accountant
Office of the Chief Accountant
SEC Headquarters
450 Fifth Street, NW
Washington, DC 20549
Dear Mr. Hewitt,
I don't know if you may recall the letter and articles that I sent to you last year on my proposals to make financial statements more understandable to investors and creditors, and less complex generally (see my earlier note dated 7/28/06, below). I was very pleased to see the establishment of the new Advisory Committee on these topics.
I have already sent a letter expressing my interest in participating on this new Committee to Mr. Pozen, the Chairman of the Committee, and if chosen I hope that I can be of service to you, Chairman Cox, and the SEC in finding ways to simplify and clarify our existing standard financial statements.
Also, if you are interested, I would be happy to send you a specific pro forma example of the proposed simplification and clarification process for financial statements that is described in the article "Memo to FASB and IASB." The example was originally prepared for several members of the FASB board.
Respectfully,
Gordon E. Goodman
Trading Control Officer
Occidental Petroleum