Regulators Eye "Going Concern" Concerns
SEC Chairman Mum on Accounting Issues

Why Didn't FASB Just Say So?

"In a "plain English" summary of its recent actions on fair value, the FASB proves that it can, in fact, speak plain English...

Rarely in history has accounting received such public and media attention as it has in recent months, as debate swirls around the question of whether mark-to-market, or fair-value accounting has exacerbated the difficulties of the financial industry. Last week, the Financial Accounting Standards Board voted to allow companies to change how, or, perhaps more important, where, the impairment of securities are reflected on financial statements. That allows companies to avoid having to show a hit to earnings from holdings of securities that cannot currently be sold, but that may ultimately still be worth more than suggested by current sales prices (or estimated sales prices in cases where the market has completely dried up)..."
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Source: CFO