What financial statement consequences comparability

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Provide a GAAP definition of "fair value" and describe what is the "fair value option" Discuss the following:

What do you believe is the rationale behind FASB's allowance of the "Fair Value Option"?
What financial statement consequences (comparability, consistency, earnings quality, etc.) do you believe can result from allowing company this latitude?

Reference no: EM13567603

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What financial statement consequences comparability : provide a gaap definition of fair value and describe what is the fair value option discuss the following what do you

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