Mark to Market Accounting

You may have heard about mark to market accounting, also known as fair value accounting, but did you know that this accounting theory has contributed to the economic crisis and can lead to professional liability insurance losses? Unfortunately, this particular accounting technicality, FAS 157, may have contributed - some say caused - the credit crisis, and may lead to more litigation. These claims are starting to make the rounds in professional commentary and on blog posts. Mark to market, or...