Fair Value: Clarifying the Issues

Drastic events in the credit markets have converted what used to be a technical issue in accounting - fair value - into a public debate and a point of bitter contention in the business community. A White Paper by PricewaterhouseCoopers (PwC) summarizes the key points of the debate and offers a balanced perspective on the issues. The Paper weighs the significant benefits and limitations of reporting fair value; both have been forcefully evident in the past year and continue to emerge. (Read the PwC Paper on Fair Value: Clarifying the Issues.)