First Name:
Jordan
Last Name:
Foley
Major Department:
Accounting
Thesis Director:
Ken Brackney
Date of Thesis:
May 2009
Since the 1980's the Financial Accounting Standards Board has significantly increased the number of fair value accounting standards, leading to an immense increase if fair value reporting. The most recent of which, SFAS 157 Fair Value Measurements, has been plagued witq controversy since its inception in 2006. This paper provides a brief history of fair value reporting and describes the provisions of the statement. Furthermore, this paper describes benefits as well as faults of fair value reporting and offers conclusions to how fair value reporting should be improved and implemented in the future.