We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

FASB To Propose Flexible Mark-To-Market Reading

Law360 (March 16, 2009, 12:00 AM EDT) -- Bowing to pressure from members of Congress pushing for swift changes to the accounting standards, the Financial Accounting Standards Board on Monday reportedly proposed giving companies more leeway in determining whether a market for an asset is active and if a transaction is "distressed" under fair value accounting rules.

Robert Herz, FASB's chairman, said that the rules, which could officially be adopted as early as April 2, may be used in companies' first-quarter earnings report, Reuters reported. Herz made his statement at a meeting at FASB's...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.