Generally accepted accounting principles encourage companies to report the fair value of their long-term debt.

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Generally accepted accounting principles (GAAP) recommend that companies report the fair value of their long-term debt. This helps to provide a more accurate picture of the company's financial position and performance. However, it is important to note that GAAP also allows companies to report their long-term debt at amortized cost, which is the original cost of the debt adjusted for any changes in interest rates or payments.

Generally Accepted Accounting Principles Encourage Companies to Report the Fair