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IASB Amends Mark-To-Market Rules

Law360 (March 5, 2009, 12:00 AM EST) -- The International Accounting Standards Board announced Thursday that it was amending its mark-to-market accounting rules in an effort to bring disclosure requirements of financial reporting more closely in line with U.S. standards.

The IASB amendments clarify and enhance existing disclosure requirements by enabling companies to evaluate the liquidity risk related to financial instruments by using a three-level hierarchy that values those assets based on liquidity.

Mark-to-market, or fair value, accounting mandates that companies value their assets based on current selling prices.

The London-based IASB, which sets...
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