Unformatted text preview: The fair value measurements are mandatory. The fair value standard essentially extends the held-to-maturity approach to trading securities and available-for-sale securities. Under fair value reporting as contemplated by the ruling, changes in value of securities would be reported in other comprehensive income, not earnings. The fair value standard represents a narrowing of the opportunities to depart from the historical cost tradition....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11