With all of the turmoil in the financial markets in 2008, one of your friends has emailed you because she has been wondering about the financial disclosure requirements for the banks and brokerage firms affected by the market turbulence. Explain the general accounting requirements for financial instruments to your friend.

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The Answer of With all of the turmoil in the financial markets in 2008, one of your friends has emailed you because she has been wondering about the financial disclosure requirements for the banks and brokerage firms affected by the market turbulence. Explain the general accounting requirements for financial instruments to your friend.

With All of the Turmoil in the Financial Markets in 2008