EESA Includes Mark-to-Market Provisions
By Edith Orenstein, FEI Financial Reporting Blog - The Emergency Economic Stability Act of 2008 (EESA), slated for a House vote on Monday Sept. 29, included two provisions related to mark-to-market (MTM) accounting, also called fair value (FV) accounting, particularly as set forth in FASB Statement No. 157, Fair Value Measurement (FAS 157). Section 132 reiterated the SEC's authority to suspend fair value accounting, and Section 133 called for the SEC to conduct a special study. Read more here.