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Fair Value Accounting, Historical Cost Accounting, and Systemic Risk

In the wake of the 2008 financial crisis, conflicting arguments have been made about fair value accounting (FVA) versus historical cost accounting (HCA) and the role that each played in the crisis. This report examines the relationship between both types of accounting practices and systemic risk in...

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Main Authors: Greenberg, Michael D., Helland, Eric, Clancy, Noreen, Dertouzos, James N.
Format: Online
Sprog:engelsk
Udgivet: RAND Corporation 2023
Fag:
Finance
Law
History
thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking
thema EDItEUR::N History and Archaeology::NH History::NHK History of the Americas
thema EDItEUR::L Law::LN Laws of specific jurisdictions and specific areas of law::LNP Financial law: general::LNPB Banking law
Online adgang:ONIX_20231005_9780833083661_1001
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Summary:In the wake of the 2008 financial crisis, conflicting arguments have been made about fair value accounting (FVA) versus historical cost accounting (HCA) and the role that each played in the crisis. This report examines the relationship between both types of accounting practices and systemic risk in the financial sector, providing recommendations on how FVA and HCA can both be improved.

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