The chief accountant at Xerox debates why corporates may not be ready to use fair value on non-financial assets.
It will take more than a change in rules to make companies comfortable with the move to fair value accounting. It will take a change in "mindset," predicts Gary Kabureck, the chief accountant and corporate vice president at Xerox Corp.
Kabureck was one of eight experts invited by the Securities and Exchange Commission to participate in a roundtable session on fair value accounting this week. Representing the perspective of financial statement preparers, the chief accountant debated several key points with fellow panelist during the half-day meeting that was aimed at fleshing out thorny issues related to the switch from historical cost accounting to the fair value method.
See full Article.
Posts
