LEADER 10902nam 2200589 a 450 001 9910809885003321 005 20240410170614.0 010 $a1-61470-215-2 035 $a(CKB)2670000000149458 035 $a(EBL)3019536 035 $a(SSID)ssj0000743595 035 $a(PQKBManifestationID)12284825 035 $a(PQKBTitleCode)TC0000743595 035 $a(PQKBWorkID)10826610 035 $a(PQKB)11466431 035 $a(MiAaPQ)EBC3019536 035 $a(Au-PeEL)EBL3019536 035 $a(CaPaEBR)ebr10671101 035 $a(OCoLC)777548892 035 $a(EXLCZ)992670000000149458 100 $a20130326d2009 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 00$aMark to market and fair value accounting$b[electronic resource] $ean examination /$fJames W. Curtis, editor 205 $a1st ed. 210 $aNew York $cNova Science Publishers, Inc.$d2009 215 $a1 online resource (261 p.) 225 1 $aBusiness economics in a rapidly-changing world series 300 $aDescription based upon print version of record. 311 $a1-60741-996-3 320 $aIncludes bibliographical references and index. 327 $aIntro -- MARK TO MARKET AND FAIRVALUE ACCOUNTING:AN EXAMINATION -- CONTENTS -- PREFACE -- FAIR VALUE ACCOUNTING:CONTEXT AND CURRENT CONCERNS* -- ABSTRACT -- HISTORICAL COST ACCOUNTING VS.FAIR VALUEACCOUNTING -- THE FINANCIAL ACCOUNTING STANDARDS BOARD -- THE SARBANES-OXLEY ACT OF 2002,THE SEC, AND FASB -- FAIR VALUE AND MARK- TO-MARKET ACCOUNTING,ANDSECURITIES THAT ARE DESIGNATED AS TRADEABLE,HELD-TOMATURITY, AND AVAILABLE FOR SALE -- FINANCIAL ACCOUNTING STANDARD 157 -- BASIC DIVISIONS BETWEEN SUPPORTERSAND OPPONENTSOF FAIR VALUE ACCOUNTING -- CONGRESSIONAL INTEREST -- KEY ARGUMENTS AGAINST FAIR VALUE ACCOUNTING -- KEY ARGUMENTS IN FAVOR OFFAIR VALUE ACCOUNTING -- THE SEC EXAMINES THE IMPACT OF FAIRVALUEACCOUNTING ON FINANCIAL SERVICEFIRMS' BALANCESHEETS, INCOME STATEMENTS,AND ON BANK FAILURES -- SOME PROPOSED REFORMS -- SOME RECENT DEVELOPMENTS -- The FASB Clarification of October 2008 -- The Group of 30 Report -- FASB's 2009 Fair Value Projects -- REFERENCES -- WRITTEN TESTIMONY OF TANYA S. BEDER[1],CHAIRMAN, SBCC GROUP INC. PREPAREDFOR THE U.S. HOUSE OF REPRESENTATIVES,COMMITTEE ON FINANCIAL SERVICES,SUBCOMMITTEE ON CAPITAL MARKETS,INSURANCE AND GOVERNMENT SPONSOREDENTERPRISES,MARCH 12, 2009 -- 1. ON SUSPENDING MARK-TO-MARKET ACCOUNTING -- Recommendation -- 2. ON "FAIR" VALUE -- Recommendation -- 3.WE SHOULD NOT RELY ON SINGLE MEASURES -- Recommendation -- 4. ON PRO-CYCLICALITY -- Recommendation -- REFERENCES -- STATEMENT OF THE COMMERCIALMORTGAGE SECURITIES ASSOCIATION,BEFORE THE UNITED STATES HOUSE OFREPRESENTATIVES COMMITTEE ONFINANCIAL SERVICES SUBCOMMITTEE ONCAPITAL MARKETS, INSURANCE, ANDGOVERNMENT SPONSORED ENTERPRISES,HEARING ON "MARK-TO-MARKETACCOUNTING: PRACTICES ANDIMPLICATIONS",MARCH 12, 2009 -- BACKGROUND -- THE PROBLEM:MARKET DISRUPTIONS AND FVA -- POSSIBLE SOLUTIONS. 327 $aTESTIMONY OF CYNTHIA FORNELLI ,EXECUTIVE DIRECTOR, CENTER FOR AUDITQUALITY , BEFORE THE UNITED STATESHOUSE OF REPRESENTATIVES COMMITTEE ONFINANCIAL SERVICES , SUBCOMMITTEE ONCAPITAL MARKETS, INSURANCE ANDGOVERNMENT SPONSORED ENTERPRISES ,THURSDAY,MARCH 12, 2009 ,FULL TEXT OF TESTIMONY -- INTRODUCTION -- THE VALUE OF FAIR VALUE -- ADDRESSING CAPITAL ADEQUACY CONCERNS -- PROPOSALS FOR IMPROVING FAIR VALUEAND ADDRESSING THE FINANCIAL CRISIS -- THE IMPORTANCE OF INDEPENDENT STANDARD SETTING -- THE IMPORTANCE OF INDEPENDENT STANDARD SETTING -- REFERENCES -- TESTIMONY OF ROBERT H. HERZ,CHAIRMAN, FINANCIAL ACCOUNTINGSTANDARDS BOARD, BEFORE THE U.S. HOUSEOF REPRESENTATIVES FINANCIAL SERVICESSUBCOMMITTEE, ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTITIES,MARCH 12, 2009,FULL TEXT OF TESTIMONY -- INTRODUCTION -- THE FASB -- WHAT PROCESS DOES THE FASB FOLLOW INDEVELOPING ACCOUNTING STANDARDS? -- THE ROLE OF ACCOUNTING STANDARD SETTERS ANDTHE ROLE OF PRUDENTIAL REGULATORS -- WHAT IS FAIR VALUE MEASUREMENTAND ITS ROLE IN ACCOUNTING? -- SOME OBSERVATIONS ON RECENT CALLS TO SUSPENDAPPLICATION OF FAIR VALUE ACCOUNTING -- IMPACT OF FAIR VALUE ACCOUNTINGON FINANCIAL INSTITUTIONS -- FASB STATEMENT NO. 157,FAIR VALUE MEASUREMENTS -- FASB IMPLEMENTATION ACTIVITIESRELATING TO FAIR VALUE MEASUREMENTS -- INTERNATIONAL FINANCIAL REPORTING STANDARDS -- CONCLUSION -- REFERENCES -- TESTIMONY OF ROBERT H. HERZ,CHAIRMAN, FINANCIAL ACCOUNTINGSTANDARDS BOARD, BEFORE THE U.S. HOUSEOF REPRESENTATIVES FINANCIAL SERVICESSUBCOMMITTEE, ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTITIES,MARCH 12, 2009 -- ATTACHMENT 1, SUMMARY AND INTRODUCTION OFFASB STATEMENT OF FINANCIAL ACCOUNTINGSTANDARDS, NO. 115, ACCOUNTING FOR CERTAININVESTMENTS IN DEBT AND EQUITY SECURITIES -- Summary -- Introduction. 327 $aTESTIMONY OF ROBERT H. HERZ,CHAIRMAN, FINANCIAL ACCOUNTINGSTANDARDS BOARD, BEFORE THE U.S. HOUSEOF REPRESENTATIVES FINANCIAL SERVICESSUBCOMMITTEE, ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTITIES,MARCH 12, 2009 -- ATTACHMENT 2, SUMMARY OF FASB STATEMENT OFFINANCIAL ACCOUNTING STANDARDS NO. 157,FAIR, VALUE MEASUREMENTS -- REASON FOR ISSUING THIS STATEMENT -- DIFFERENCES BETWEEN THIS STATEMENTAND CURRENT PRACTICE -- HOW THE CONCLUSIONS IN THIS STATEMENT RELATE TOTHE FASB'S CONCEPTUAL FRAMEWORK -- HOW THE CHANGES IN THIS STATEMENTIMPROVE FINANCIAL REPORTING -- COSTS AND BENEFITS OF APPLYING THIS STATEMENT -- THE EFFECTIVE DATE OF THIS STATEMENT -- TESTIMONY OF ROBERT H. HERZ,CHAIRMAN, FINANCIAL ACCOUNTINGSTANDARDS BOARD, BEFORE THE U.S. HOUSEOF REPRESENTATIVES FINANCIAL SERVICESSUBCOMMITTEE, ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTITIES,MARCH 12, 2009, -- ATTACHMENT 3, NEWS RELEASE, "SEC OFFICE OF THECHIEF ACCOUNTANT AND FASB STAFF CLARIFICATIONSON FAIR, VALUE ACCOUNTING" -- TESTIMONY OF ROBERT H. HERZ,CHAIRMAN, FINANCIAL ACCOUNTINGSTANDARDS BOARD, BEFORE THE, U.S. HOUSEOF REPRESENTATIVES FINANCIAL SERVICESSUBCOMMITTEE, ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTITIES,MARCH 12, 2009 -- ATTACHMENT 4, FASB STAFF POSITION NO. FAS 157-3,DETERMINING THE FAIR VALUE OF A FINANCIAL ASSETWHEN THE MARKET FOR THAT ASSET IS NOT ACTIVE -- Fasb Staff Position -- OBJECTIVE -- BACKGROUND -- FASB Staff Position -- Amendment to Add an Illustrative Example to Statement 157 -- Effective Date and Transition -- TESTIMONY OF ROBERT H. HERZ,CHAIRMAN, FINANCIAL ACCOUNTINGSTANDARDS BOARD, BEFORE THE U.S. HOUSEOF REPRESENTATIVES FINANCIAL SERVICESSUBCOMMITTEE, ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTITIES,MARCH 12, 2009. 327 $aATTACHMENT 5, NEWS RELEASE, "FASB ISSUES FIRSTOF TWO PROPOSED STAFF POSITIONS TO IMPROVE THEFINANCIAL REPORTING FOR FINANCIAL INSTRUMENTS" -- FASB Issues First of Two Proposed Staff Positions to Improve theFinancial Reporting for Financial Instruments -- About the Financial Accounting Standards Board -- TESTIMONY OF ROBERT H. HERZ,CHAIRMAN, FINANCIAL ACCOUNTINGSTANDARDS BOARD, BEFORE THE U.S. HOUSEOF REPRESENTATIVES FINANCIAL SERVICESSUBCOMMITTEE, ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTITIES,MARCH 12, 2009 -- ATTACHMENT 6, NEWS RELEASE, "IASB AND FASBANNOUNCE MEMBERSHIP OF FINANCIAL CRISIS,ADVISORY GROUP" -- IASB and FASB Announce Membership ofFinancial Crisis Advisory Group -- Notes for editors About the IASB -- About the Financial Accounting Standards Board -- Overview of the Financial Crisis Advisory Group -- Areas within the Advisory Group's purview -- Advisory Group Structure and Meetings -- Conduct of Its Activities -- TESTIMONY OF ROBERT H. HERZ,CHAIRMAN, FINANCIAL ACCOUNTINGSTANDARDS BOARD, BEFORE THE U.S. HOUSEOF REPRESENTATIVES FINANCIAL SERVICESSUBCOMMITTEE, ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTITIES,MARCH 12, 2009 -- ATTACHMENT 7, NEWS RELEASE, "FASB INITIATESPROJECTS TO IMPROVE MEASUREMENT ANDDISCLOSURE OF FAIR VALUE ESTIMATES" -- FASB Initiates Projects to Improve Measurement andDisclosure of Fair Value Estimates -- ABOUT THE FINANCIAL ACCOUNTINGSTANDARDS BOARD -- TESTIMONY OF WILLIAM M. ISAAC,CHAIRMAN, THE SECURA GROUP OF LECG,FORMER CHAIRMAN, FEDERAL DEPOSITINSURANCE CORPORATION, BEFORE THESUBCOMMITTEE ON CAPITAL MARKETS,INSURANCE, AND GOVERNMENT SPONSOREDENTERPRISES, U.S. HOUSEOF REPRESENTATIVES COMMITTEE ONFINANCIAL SERVICES,WASHINGTON,DC,MARCH 12, 2009 -- MARK TO MARKET ACCOUNTING EXPECTED LOSSES VS.MARK TO MARKET WRITE-DOWNS -- MBS Description -- Losses based on MTM -- A. BACKGROUND. 327 $aB. TODAY'S PROBLEMS -- C. ALTERNATIVES -- D.WHO MAKES THE RULES? -- OPENING STATEMENT OF CONGRESSMANPAUL E. KANJORSKI, SUBCOMMITTEE ONCAPITAL MARKETS, INSURANCE, ANDGOVERNMENT SPONSORED ENTERPRISES,HEARING ON MARK-TO-MARKETACCOUNTING: PRACTICES ANDIMPLICATIONS,MARCH 12, 2009 -- TESTIMONY OF KEVIN J. BAILEY, DEPUTYCOMPTROLLER, OFFICE OF THECOMPTROLLER OF THE CURRENCY, BEFORETHE SUBCOMMITTEE ON CAPITAL MARKETS,INSURANCE AND GOVERNMENT SPONSOREDENTERPRISES OF THE COMMITTEE ONFINANCIAL SERVICES OF THE UNITED STATESHOUSE OF REPRESENTATIVES,MARCH 12, 2009 -- I. INTRODUCTION -- II. BACKGROUND ON FAIR VALUE ACCOUNTING -- Valuation of Financial Instruments -- Definition of Fair Value -- Impairment -- III. BACKGROUND ON CAPITAL -- IV. INTERPLAY BETWEEN FAIRVALUE ACCOUNTING AND CAPITAL -- V. CHALLENGES FACED BY BANK AND SUPERVISORS -- OTTI -- Valuation -- VI. CONCLUSION -- REFERENCES -- TESTIMONY OF JAMES KROEKER,ACTINGCHIEF ACCOUNTANT, U.S. SECURITIES ANDCOMMISSION, CONCERNING MARK-TOMARKETACCOUNTING: PRACTICES ANDIMPLICATIONS, BEFORE THE SUBCOMMITTEEON CAPITAL MARKETS, INSURANCE, ANDGOVERNMENT SPONSORED ENTERPRISES,COMMITTEE ON FINANCIAL SERVICES,U.S. HOUSE OF REPRESENTATIVES,MARCH 12, 2009 -- THE FOCUS OF FINANCIAL REPORTING -- THE HISTORY OF FAIR VALUE ACCOUNTING -- EFFORTS TO IMPROVE FAIR VALUE ACCOUNTING -- CONGRESSIONAL MARK-TO-MARKET STUDY -- CONCLUSION -- REFERENCES -- TESTIMONY OF JEFFREY P.MAHONEY,GENERAL COUNSEL, COUNCIL OFINSTITUTIONAL INVESTORS, BEFORE THESUBCOMMITTEE ON CAPITAL MARKETS,INSURANCE AND GOVERNMENT SPONSOREDENTERPRISES OF THE COMMITTEE ONFINANCIAL SERVICES,MARCH 12, 2009 -- PREPARED STATEMENT -- FULL TEXT OF STATEMENT -- The Council[2] -- Council Corporate Governance Policies[5] -- How Fair Value Accounting AffectsInvestors and the Overall Economy. 327 $aPotential Proposals for Regulators and StandardSetters Relating to Fair Value Accounting. 410 0$aBusiness economics in a rapidly-changing world series. 606 $aFair value$xAccounting$xStandards 615 0$aFair value$xAccounting$xStandards. 676 $a657 701 $aCurtis$b James W$01656040 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910809885003321 996 $aMark to market and fair value accounting$94008679 997 $aUNINA