1、1 中文 2060字， 1200单词， 6600英文字符 出处： Source： John M. Trussel and Laura C. Rose. Fair Value Accounting and the Current Financial CrisisJ. CPA Journal, 2009,79(6):26-30 原文 ： Fair Value Accounting and the Current Financial Crisis Jonh M.Trussel and Laura C.Rose The accounting for financial assets and liabi
2、lities is a complex issue that has been evolving toward the use of fair value. Both the FASB and IASB provide the option of using fair value accounting in reporting financial assets and liabilities and certain other items. This move is not without controversy. Many have opined that the use of fair v
3、alue accounting, as opposed to historical cost accounting, has helped cause the turmoil the financial markets. Research indicates that the exclusive use of one accounting me thod may not be efficient for financial institutions. The authors believe that the FASB should consider an alternative account
4、ing approach that would incorporate both systems and mitigate the inefficiencies of using just one accounting method. In seeking to explain the current financial crisis, the spotlight has turned to fair value accounting and financial institutions. FASB issued SFAS 157. Fair Value Measurements, in Se
5、ptember 2006. Shortly thereafter, the problems related to the sub prime mortgage market began to surface. Many began to question whether or not the current distress in financial institutions is related to the new accounting standard. Did the new standard exacerbate the problems or merely illuminate
6、them? In October 2008. Then President George W. Bush signed into law the Emergency Economic Stabilization Act of 2008 (EESA), the so-called bailout bill. Under section 132 of the EESA. Congress gave the SEC the authority to suspend the use of fair value accounting under SFAS 157. Section 133 requires the SEC to conduct a study of the fair value accounting as stipulated in SFAS 157. See Exhibit 1 for excerpts from these two sections of the EESA. Note that in Section 133, Congress even calls
