Information Technology (IT) Audit Services > Equipment Management During the Recession and Recovery Period > CPA Magazine Article Examines Issues With Determining Fair Value

CPA Magazine Article Examines Issues With Determining Fair Value

Many critics are blaming the Financial Accounting Standard Board (FASB) Statement No. 157, Fair Value Measurements, for the controversy surrounding fair value accounting, according to Steve Bodine, assurance and accounting principal with LarsonAllen.

But in the article, “Why All the Excitement Over Mark-to-Market Accounting?,” he reminds readers that “… this standard did not change which accounts were valued at fair value. Instead, it defined fair value and required additional disclosure on how fair values were determined.”