The use of fair value accounting – simply defined as the booking of numbers based on current market value – has been named as a catalyst in worsening the recent financial crisis. Emerging from the rubble, accounting regulators, like the IASB and FASB, together with industry players, are now trying to work out rules and standards. However, the question of to “fair” or not to “fair” is the subject of a hot debate. Columbia University’s Stephen Penman weighs in at a recent SMU lecture.
Accounting | Business | Finance and Financial Management
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Finance and Accounting
Wait not for another crisis: Weighing in on the fair value accounting debate. (2010). Knowledge@SMU.
Available at: http://ink.library.smu.edu.sg/ksmu/83