Despite the relevance of fair value accounting to the financial statements, it was not adopted by standard setting bodies until recently. This paper investigates the evolution of fair value accounting in the USA and shows that several factors, such as accounting standard setting bodies,...

The first part of the paper explains the following notions: what a credit crunch is, causes of the credit crunch, current social issues related to the credit crunch, and effects that the credit crunch has had on the US economy. The second part entails the analysis of hypotheses and...

Abraham J. Briloff's article entitled 'Google's SOS to the SEC' (Jan 29-Feb. 11, 2007, Accounting Today) examined Google's July 2006 appeal to rescue it from a tsunami that was flooding its banks with billions of billions of dollars. The ill wind inducing this dilemma for Google was the...