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October 15, 2008
Mark to market study begins
Speaking of mark-to-market, here is part of the announcement from last week by the SEC -- SEC Commences Work on Congressionally Mandated Study on Accounting Standards; 2008-242; Oct. 7, 2008:
Under legislation enacted last week to help stabilize financial markets, the SEC is required to conduct a study of "mark-to-market" accounting. The study is to be completed by Jan. 2, 2009, in consultation with the Secretary of the Treasury and the Board of Governors of the Federal Reserve System. Under the terms of the EESA, the study will focus on:
1. The effects of such accounting standards on a financial institution's balance sheet
2. The impacts of such accounting on bank failures in 2008
3. The impact of such standards on the quality of financial information available to investors
4. The process used by the Financial Accounting Standards Board in developing accounting standards
5. The advisability and feasibility of modifications to such standards
6. Alternative accounting standards to those provided in [Financial Accounting Standards Board] Statement Number 157
Posted by Ken Jarboe at October 15, 2008 9:51 AM
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