September 1990, the United States Securities and Exchange Commission (SEC) Chairman Richard.C . Braden in the U.S. Senate Banking, Housing and Urban Affairs Committee hearing, that the historical cost financial statements for the prevention and defuse financial risks does not help, and should be the first time the fair value of property as a financial tool of Jiliang.
V带传动和齿轮传动的设计SEC Chairman testified shortly after, SEC, FASB and the AICPA (AICPA) held a joint meeting decided that the AICPA Accounting Standards Executive Committee of the subordinate (AcSEC) and the research and development related to fair value accounting standards, was "six" accounting that the top firms in this regard by the AcSEC developed the guidelines were correct, the words ring true, and may occur with the FASB's position on the conflict, therefore, after consultation, FASB in October 1991 formally took over the development of guidelines in this area
The emergence of fair value accounting standards, accounting and financial communities in the United States has caused strong repercussions. SEC and investors, represented by supporters of the view that fair value accounting will greatly enhance the relevance of financial information, so that accounting information to reflect the true financial value of assets and liabilities, and help guard against and defuse financial risks. To the Federal Reserve Board, Ministry of Finance and the financial sector, represented by opponents argued that the existing fair value accounting is the accounting model (using historical cost as the main measurement attributes) of extreme departure from not only the lack of reliability, but also lead to financial institutions enormous fluctuations in earnings, loans to financial institutions to promote decision-making short.本文来自优,文~论'文·网原文请找腾讯3249.114
3.Development of fair value accounting
In the 80's, the controversy over the fair value accounting and the financial sector, mainly in between the SEC, FASB would not easily stand. However, savings deposits, the industry in the late 80's financial crisis, completely changed the attitude and position on FASB. From 90 onwards, FASB SEC evident on the position, issued a series designed to promote the advancement of fair value accounting of financial accounting standards.
In addition, FASB in June 1996 issued a "derivative financial instruments and hedge accounting", "Comprehensive income reporting" two draft. In addition, FASB plans to release on 1999, 1998, "debt equity issues" and "fair value measurement of all financial assets and liabilities," the draft guidelines.
View of the fair value of the property as a new measure the importance and complexity of theoretical issues involved, FASB is considering developing a new concept of notice "to the present value-based measurement model", described the future cash flows need to use accounting measurement basis and as a cost-sharing scenario, the fair value for the future development of a theoretical framework of accounting stands.
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