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dc.contributor.advisorMoffit, Timothy E.
dc.contributor.authorO'Brien, Kristen
dc.description76 p.en_US
dc.description.abstractThis paper explores the concept of mark-to-market accounting, as defined by the Financial Accounting Statement 157 (hereafter "FAS 157). "This Statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements" (FAS 157-2, 2008, p. 3). Mark-to-market accounting has benefits and concerns which are explored, while considering their impact on the financial crisis of 2007 and 2008. A literary review of mark-to-market accounting and a questionnaire of accountants were conducted. The accountants were asked their opinions on mark-to-market accounting and possible alternatives to FAS 157. Second, an analysis was completed of stock and asset prices of selected firms in varying industries. This analysis demonstrated the effect of the implementation of FAS 157. Finally, an analysis of the same firms' financial notes concluded the research. to verify management's usage of FAS 157. It was determined that the Financial Accounting Standards Board's FAS 157 had minimal effect on the financial crisis. With the research completed it was determined the implementation of FAS 157 had little impact on any specific firm. The research pointed to other. factors beyond FAS 157 that may have contributed to the financial crisis. These factors were discussed in several articles, as well as, the financial notes of many firms. However, it was determined that FAS 157 had little contribution to the financial crisis.en_US
dc.relation.ispartofKalamazoo College Economics and Business Senior Individualized Projects Collection
dc.relation.ispartofseriesSenior Individualized Projects. Economics and Business.;
dc.rightsU.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.
dc.titleMark-to-Market Accounting and the Financial Crisis of 2007 and 2008en_US
KCollege.Access.ContactIf you are not a current Kalamazoo College student, faculty, or staff member, email to request access to this thesis.

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  • Economics and Business Senior Integrated Projects [1202]
    This collection includes Senior Integrated Projects (SIP's) completed in the Economics and Business Department. Abstracts are generally available to the public, but PDF files are available only to current Kalamazoo College students, faculty, and staff.

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