Thursday, April 2, 2009

FASB Approves New Accounting Standards

As reported by MarketWatch, the Financial Accounting Standards Board (FASB) has approved additional flexibility of the mark-to-market rule, allowing auditors to use significant judgment with respect to the valuation of illiquid assets, which could temper the need for companies to write down such securities. The revised rule also requires increased disclosure about valuation methods.

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