Mortgage-Backed Securities and Fair-Value Accounting
Krumwiede, Tim, Scadding, Ryan M., Stevens, Craig D., The CPA Journal
Many entities are in the process of implementing FASB's recently issued guidance on fair value, SFAS 157, Fair Value Measurements, and SFAS 159, The Fair Value Option for Financial Assets and Financial Liabilities-Including an Amendment of FASB Statement No. 115. Proper implementation can require CPAs to exercise professional judgment This professional judgment is being put to the test in the measurement of fair value for mortgage-backed securities (MBS) because of significant declines in values and reduced levels of trades resulting from the recent credit market crises. This article illustrates the application of this professional judgment to MBSs as well as a discussion on …
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Publication information: Article title: Mortgage-Backed Securities and Fair-Value Accounting. Contributors: Krumwiede, Tim - Author, Scadding, Ryan M. - Author, Stevens, Craig D. - Author. Magazine title: The CPA Journal. Volume: 78. Issue: 5 Publication date: May 2008. Page number: 30+. © New York State Society of Certified Public Accountants Feb 2009. Provided by ProQuest LLC. All Rights Reserved.
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