Value estimations and fighting the last war

We're riding a financial helter skelter, thanks to accounting standards.

Mon, 10 May 2021

One problem with regulators is that, like generals, they're always fighting the last war. Inevitably, the next war will be different, and tactical changes made in reaction to the last war can actually become an impediment to winning the next one.Accounting standards forbade companies including banks from anticipating the financial carnage to come from the global financial crisis (GFC) when valuing their assets.The accounting boffins decided that was a bad thing because it allowed companies to delay reporting that their assets had been...

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