Menu
Jenkins’ argument is a familiar one, rather like, “A dog ate my homework.” It goes like this. The object of the accounting rules is to ensure that everyone can understand the actual financial situation of an enterprise, particularly a bank, rather than being presented with an impenetrable morass of assets with historical values that have no relation to their current value today. The rules that Jenkins is referring to are the rules known as “fair-value” or “mark-to-market” accounting by which banks and others are required to value assets on their books at their current value, not at the price at which they were bought.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |