April 16: Andrew Davidson Industry Insight - Proposed FSP FAS 157-e
Location: New York
Author:
Date: Thursday, April 16, 2009
Fair Value accounting is built upon the ideas of efficient markets theory that prices reflect all available information about a security. Thus the value of a security is reflected in its price. In that framework, market price is the best measure of Fair Value. FASB now faces the unfortunate circumstance where market prices do not seem to reflect the economic value of some securities. Market prices have dropped more for some securities than appears justified by loss expectations.
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