FASB brings new flexibility to fair-value accounting rules

08/16/2009 | TheDeal.com (free registration)

The Financial Accounting Standards Board's updated fair-value rules will require companies to fully understand fair-value and mark-to-market concepts and extensively document their analysis of illiquid assets, as this article notes. The FASB gave companies some new latitude in applying fair-value principles but stood firmly behind the importance of fair value in preparing meaningful financial statements.

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