Accounting Rulemaker Proposes Use of Fair-Value Rule
March 16, 2009 at 22:06 PM EDT
After being pressured at a March 12 hearing by lawmakers to deliver new guidance on mark-to-market accounting rule within three weeks, or face legislation to relax the rule - The Financial Accounting Standards Board [FASB] Chairman Robert Herz, said on Monday his agency had agreed to allow companies to exercise “significant judgment” in valuing [...]