November 12, 2008
Rothstein Kass Paper on FAS 157
Having just posted comments on FAS 157 ourselves, the audit firm Rothstein Kass has just published a paper providing implementation guidance on the new fair value accounting standard as it applies to hedge funds. For those with interest, this paper,...
Posted at 07:00 PM in FAS 157
July 07, 2008
The latest term in the accountant's lexicon..."NAV Divergence"
We recently spoke with a senior manager working for the New York office of one of the Big 4 accounting firms. He casually mentioned what appears to be the latest addition to the accountant's lexicon: NAV Divergence. Under this concept,...
Posted at 07:00 PM in FAS 157
November 17, 2007
Will FAS 157 destroy the hedge fund industry?
Wow, that's a dramatic title. But think about this:FAS 157, the new US accounting standard dealing with "fair value measurements", requires that investors take a valuation discount for securities which...
Posted at 07:00 PM in FAS 157
