The Financial Accounting Standards Board has an official lobbyist. The board's parent, the Financial Accounting Foundation, registered as a lobbyist on Jan. 21 and has designated Jeffrey P. Mahoney, a FASB project manager here, as its representative.

"We decided that it would be appropriate to register so we could have the flexibility to respond to legislation that impacts us," said Mr. Mahoney, who noted that FASB is opposing bills that would restrict its rulemaking ability and overturn a proposal for companies to record the value of derivatives on quarterly income statements.

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