A reminder of “the basics” in the on-going fair value debate

BVWireIssue #95-2
August 11, 2010

Going Concern’s Adrienne Gonzalez recently asked the question “does anyone care about fair value anymore?” Tired of reading IASB and FASB requests for comments, Gonzalez asked David Larsen (Duff & Phelps and a member of FASB’s Valuation Resource Group) for his current thoughts.

“David believes public opinion dominates the fair value argument and really doesn’t see what the big deal is,” comments Gonzales. “The goal is to make financial statements more readable.” Larsen is “a fan of transparency on the face of financial statements and more disclosures. Who doesn’t like that?” asks Gonzalez.

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