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FASB grants partial delay on fair value
By Andrew Osterland
November 14, 2007
The Financial Accounting Standards Board voted to defer the implementation date of FAS 157, its rule for how to mark to market assets and liabilities, for all non-financial items except for those already reported at fair value on a recurring basis.
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Some observers questioned the decision. “It’s a little puzzling that [FASB] did so at all in that companies will still have to apply 157 to problem financial assets, which is a good thing, whereas the non-financial assets get the deferral,” said Jack Ciesielski, an analyst and principal in the firm of R.G. Associates.
By Andrew Osterland
November 14, 2007
The Financial Accounting Standards Board voted to defer the implementation date of FAS 157, its rule for how to mark to market assets and liabilities, for all non-financial items except for those already reported at fair value on a recurring basis.
...
Some observers questioned the decision. “It’s a little puzzling that [FASB] did so at all in that companies will still have to apply 157 to problem financial assets, which is a good thing, whereas the non-financial assets get the deferral,” said Jack Ciesielski, an analyst and principal in the firm of R.G. Associates.