dwoods55

Mark to Market Myths

Taken directly from the FASB summary on Statement 157:

"In those situations, the reporting entity need not undertake all possible efforts to obtain information about market participant assumptions. However, the reporting entity must not ignore information about market participant assumptions that is reasonably available without undue cost and effort."

In other words, if there is no market, YOU DO NOT NEED TO WRITE IT DOWN!

Understand the basics before you rail against them Paul.