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One of the topics that is discussed in the first two chapters is the concept of fair value accounting (otherwise known as mark-to-market). This approach
One of the topics that is discussed in the first two chapters is the concept of fair value accounting (otherwise known as mark-to-market). This approach requires that all financial assets are to be held on the books at the end of a period at the current market value of these assets. This is quite different than the approach taken for assets such as buildings, which are held at historical value. What do you think about this approach? Does ot make sense?
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