TEOTWAWKI. Come as you are

Unplugged even.

FASB 157 gets a “clarification”

The much maligned accounting principle of “mark to market” accounting has received an important clarification today from regulators at the SEC. “When an active market for a security does not exist, the use of management estimates that incorporate current market participant expectations of future cash flows, and include appropriate risk premiums, is acceptable.” source FASB [...]

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