Fair Value Accounting: Insights and Issues

This article examines the accounting principles and the framework underlying fair value measurements and clarifies the difference between mark-to-market accounting and fair value accounting. The article then examines the application of fair value accounting in inactive or illiquid markets, and in doing so, raises certain thematic issues that have surfaced in regard to this topic.

12 minute read December 19, 2008 at 03:48 PM
By
Vijay Sampath And Jamal Ahmad
Fair Value Accounting: Insights and Issues

Fair value accounting ' sometimes used interchangeably with mark-to-market accounting ' has been criticized in some quarters as being the main cause of the current credit market turmoil.

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