In the year I've been writing for Compliance Week, one subject I haven't broached is fair-value accounting. I'm not alone; the Securities and Exchange Commission's Advisory Committee to Improve Financial Reporting has decided not to touch it either, while offering recommendations on all manner of other nettlesome problems. Nonetheless, the debate continues over fair value versus historical cost accounting.
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"FASB's New Start on Old Menace to Balance Sheets"Please download to view full document