Harris, Peter; Kutasovic, Paul R. - In: Global Journal of Business Research 5 (2011) 2, pp. 97-104
The current financial crisis has revived the debate surrounding fair value accounting especially in the case of illiquid markets and for assets that lack marketability. Many analysts argue that it was issuance of FASB 157 (ASC 820) and the use of fair value accounting that caused the financial...