%0 Journal Article %1 3287288720080501 %A Flegm, Eugene H. %D 20080501 %J Journal of Accountancy %K decision fair usefulness value, verifiability, %P p37 - 39 %T The Need for Reliability in Accounting. %U http://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=32872887&site=ehost-live %V 5 %X The author offers opinions on accounting. The concept of "fair value" accounting instituted by the Financial Accounting Standards Board (FASB) in 1976 is criticized as unreliable. The financial crisis created by the fall in U.S. housing prices and the collapse of energy company Enron are cited as examples of how fair value and mark to market accounting rules actually exercerbate the problems, including fraud, they were intended to prevent.

@article{3287288720080501, abstract = {The author offers opinions on accounting. The concept of "fair value" accounting instituted by the Financial Accounting Standards Board (FASB) in 1976 is criticized as unreliable. The financial crisis created by the fall in U.S. housing prices and the collapse of energy company Enron are cited as examples of how fair value and mark to market accounting rules actually exercerbate the problems, including fraud, they were intended to prevent. }, added-at = {2008-09-15T11:32:09.000+0200}, author = {Flegm, Eugene H.}, biburl = {https://www.bibsonomy.org/bibtex/29ef9abd8f7399899c26f7822ea1117c2/janschek}, interhash = {a11efd1086ff7e6357a3cb9b06661cd7}, intrahash = {9ef9abd8f7399899c26f7822ea1117c2}, issn = {00218448}, journal = {Journal of Accountancy}, keywords = {decision fair usefulness value, verifiability,}, pages = {p37 - 39}, timestamp = {2008-09-15T11:41:10.000+0200}, title = {The Need for Reliability in Accounting.}, url = {http://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=32872887&site=ehost-live}, volume = 5, year = 20080501 }