FASB doesn't do its rule making in a vacuum. It solicits (and mostly ignores) comments from a wide range of stakeholders. The result is a rich set of data to examine the role of large institutions in shaping the rules...

Agreeing that it would be much better if financial firms could just decide for themselves what difficult to value items on their balance sheet are worth if the price for similar assets in the market isn't satisfactory to them, FASB...

A review of "fair value" accounting promises to be a long, painful procedure that not only carries with it the possibility of severe and potentially deadly infection, but entails a long recovery time and is likely to reveal any number...

Earlier this morning we discussed how changes in the way accounting rules treated auction-rate securities helped drive corporate investors out of the market. (For a rousing debate of exactly which accounting changes stamped out demand, click here.) Credit market concerns...