Organize Forum Threads on this page and apply settings to several or all threads. Threads are listed in a tabular format. The Threads can be sorted by clicking the column title or the caret at the top of each column. More Help On August 16. 1997. Parson Corp. purchased 20 acres of land for S500.000. The land has been held for a future plant site until the current date. December 31, 2016. On December 5. 2016. Overland. Inc. purchased 20 acres of land for S3.000.000 to be used for a distribution center. The Overland land is located next to the Parson Corp. land. Thus, both Parson Corp. and Overland. Inc. own nearly identical pieces of land. It hat are the valuations on land on the balance sheets of Parson Corp. and Overland, Inc. using generally accepted accounting principles? How might fair value accounting aid comparability when evaluating these two companies