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Entries tagged "FASB"G-20 and mark-to-market: Two blog favoritesWhile print media relegated the G-20 and fair value accounting stories to the inside pages, the blogosphere was chock-a-block with stories about the two topics. Congressmen push FASB's Herz into a cornerAfter House Democrats press FASB Chairman Robert Herz at a hearing, he agreed to have new guidance on mark-to-market accounting rules in three weeks. Congressman: Time to act on mark-to-marketRep. Paul Kanjorski, D-Penn., threatens FASB with congressional action if it doesn't modify accounting standards, but stops short of actually demanding an end to mark-to-market rules. FASB may change mark-to-market rulesMore tweaks could be coming to the controversial accounting standard mark to market, which some have blamed for massive bank write-downs. Accountants to Cox: Keep politics out of accountingAs the Securities and Exchange Commission prepares for yet another roundtable discussion on fair value or mark-to-market accounting, Robert Denham, chairman of the Financial Accounting Foundation, is urging SEC Chairman Christopher Cox (pictured) to reject any attempt to suspend the accounting rule. ... ABA not satisfied with FASB clarificationThe American Bankers Association, a Washington-based lobbying group, wants the Securities and Exchange Commission to override U.S. accounting rulemakers' new guidance on mark-to-market accounting, saying it still relies too heavily on distressed asset values. ... FASB clarifies mark-to-marketThe Financial Accounting Standards Board issued a clarification late Friday of its fair value or "mark-to-market" accounting rules that gives guidance to financial firms on how to value illiquid assets in distressed markets. The FASB ruling builds on a statement it released with the Securities and Exchange Commission on Sept. 30, with examples of how companies should use their best judgment to value assets that have no active market.... FASB to Congress: Don't politicize accounting rulesThe Financial Accounting Foundation, the independent private sector organization responsible for overseeing the Financial Accounting Standards Board, wants Congress to stay out of making accounting rules through the political process.... The surreal crisis: Merrill, Nutmegs and mark-to-marketThe most salient characteristic of the current crisis -- "current" meaning for an entire year by now -- is its surrealism. That surrealism, in turn, is driven by the continuing belief that mark-to-market accounting, once spread widely enough, can finally clear away the obscurities and the opacities, and give us truth, value, a bottom, a solid place to rebuild. Eh, maybe. Maybe it's still too early, but the headlines continue to emphasize not solidity and value, but a shifting phantasmagoria. It's like the '60s all over again. Now, of course, some of this arises from the fact that the... FASB overhaul OK'dA controversial plan to overhaul the Financial Accounting Standards Board appears to have come to fruition with its governing body decreasing the number of people who serve on the accounting board. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "FASB." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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