Make a comments on the article ( Critical insights back into the role of fair value accounting within the financial crisis )

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Paper, Order, or Assignment Requirements

 

The professor structure :

“You can download the assigned article from the following library site for our class: 
http://udallas.libguides.com/int_fin_acct You should make a reply to the discussion question”

* I have uplod the file 

Professional Literature Unit 10
“Critical Insights Back Into the Role of Fair Value Accounting Within the Financial Crisis”
by G. Polucci, and E. Menicucci. International Journal of Business and Social Science , 2014, 5(8).

This article presents the opinions of three different professionals regarding the role of FASB No. 157 – Fair Value Measurements and mortgage-backed financial instruments, especially collataterlized debt obligations, and the impact it may have had on the economic crisis. Please discuss the following questions:

1) Do you agree with Mr. Flegm’s comment that “the success of any company will depend on the quality of its products and services and the skill of its management, not on a guess at the “value ” of its assets”? Why or why not?

2) Last year (after this article was written) FASB made changes to FAS no. 157 in response to Congress’s political pressure. Do you think they should have stood up to Congress and not acted so quickly? 

3) Discuss any of the authors’ opinions that you firmly agree or disagree with, and why.

*I want these to be answering the question not an essay way.