By WebCPA Staff: Turmoil in the financial markets has negated the value of fair value accounting, according to more than half the respondents to a new survey.
The survey of financial professionals’ views on fair value accounting by valuation-related service provider Valuation Research Corp. found that a majority of respondents indicated that they believed that market turmoil and the collapse of active markets for many assets caused implementation issues in fair value accounting.
Read complete article Financial Crisis Creates Fair Value Skeptics
Source: WebCPA, 13 July 2009. © 2009 Accountants Media Group and SourceMedia, Inc. All rights reserved.