Purchase Solution

Fair Value Accounting Rules

Not what you're looking for?

Ask Custom Question

"A Look at Each Side of the Ongoing Debate on Whether Fair Value Accounting Rules should have been Modified?"

- Arguments in favor & against of the changes

- What is your opinion? Do you believe the FABS should have made the changes on 4/2/09 resulting in a probable decrease in asset write-downs?

- What do you believe some of the key issues will be now that the announcement has occurred?

Purchase this Solution

Solution Preview

Traditionally Balance Sheet was prepared at cost based on the historical cost concept. However, with the introduction of FAS 157 fair value method of reporting financial statements became ...

Solution provided by:
Education
  • Chartered Accountant (Equivalent to CPA in US), Institute of Charted Accountants of India
  • Bachelor of Commerce, West Bengal University
Recent Feedback
  • "I got this feedback and I wanted to know if you can explain it to me. I noticed something within your workings which I believe is incorrect.  It looks like you've mistaken the Debt ratio for the Equity Multiplier.  You've done a calculation to determine Return on Equity (ROE) but if you take a look at the ratios provided for us you'll see ROE listed on the bottom line already.  You can use ROE, Profit Margin and Total Asset Turnover to figure out the Equity Multiplier amount.  Equity multiplier is not provided for us and we need to calculate it.  I really hope this is helpful to you.  "
  • "Very attentive to detail. Answers are designed in easy to understand format."
  • "Fast response and thorough answer"
  • "thank you very much! "
  • "thank you so much !!!!!!!"
Purchase this Solution


Free BrainMass Quizzes
IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Basics of corporate finance

These questions will test you on your knowledge of finance.

Motivation

This tests some key elements of major motivation theories.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.