02301oam 2200493z- 450 9910220149103321202310059780833083661083308366X(CKB)3360000000476940(oapen)doab115227(EXLCZ)99336000000047694020160215c2013uuuu -u- -engurmn|---annantxtrdacontentcrdamediacrrdacarrierFair Value Accounting, Historical Cost Accounting, and Systemic RiskPolicy Issues and Options for Strengthening Valuation and Reducing RiskRAND Corporation20131 online resource9780833082121 0833082124 Introduction -- Background: The Debate over FVA and HCA -- Systemic Risk and Accounting Approaches -- Accounting Standards and Prudential Regulation -- Lessons from Historical Episodes Involving Accounting Standards, Systemic Risk, and Financial Crisis -- Implementation and Risk: The Challenges to Doing FVA and HCA Well -- Conclusion and Policy Options -- Appendix: An Overview of HCA and FVA.In the wake of the 2008 financial crisis, conflicting arguments have been made about fair value accounting (FVA) versus historical cost accounting (HCA) and the role that each played in the crisis. This report examines the relationship between both types of accounting practices and systemic risk in the financial sector, providing recommendations on how FVA and HCA can both be improved.Fair Value Accounting, Historical Cost Accounting, and Systemic RiskBanking lawbicsscBankingbicsscHistory of the AmericasbicsscFinanceHistoryLawBanking lawBankingHistory of the AmericasGreenberg Michael D.1969-863719Helland EricClancy NoreenDertouzos James N.1950-RAND Center for Corporate Ethics and Governance,BOOK9910220149103321Fair value accounting, historical cost accounting, and systemic risk2885389UNINA