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Fair Value Accounting

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  • Susan Schmidt Bies

Abstract

Advocates of fair value accounting believe that fair value is a more relevant, more useful measure for financial reporting than historical cost. However, fair value accounting poses many challenges. In remarks before the International Association of Credit Portfolio Managers, Governor Susan Schmidt Bies shared the Federal Reserve's views on the proposed standards for valuing assets and liabilities currently measured or disclosed at fair value that were recently issued by the Financial Accounting Standards Board. Governor Bies's remarks highlighted fair value measurement issues, considerations for credit portfolio management, and the accounting treatment of credit derivatives.

Suggested Citation

  • Susan Schmidt Bies, 2005. "Fair Value Accounting," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 91(1), pages .26-29.
    • Handle: RePEc:fip:fedgrb:89506
    DOI: 10.17016/bulletin.2005.91-1-3
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    File URL: https://www.federalreserve.gov/pubs/bulletin/2005/winter05_fair.pdf
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    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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