Business told to do 'extra work' to obtain 'fair value' if a quoted price seems unrealistic
The standard setters have told the business community that fair value cannot be blamed for exacerbating corporate credit woes and that 'extra work' must be done to obtain 'fair value' if a quoted price seems unrealistic.
The comments were made by Financial Accounting Standards Board member Tom Linsmeier, attending a fair value round table assembled by the Securities and Exchange Commission.
See full Article.
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