SFAS No. 157 may result in a decrease in financial statement comparability among firms.

Name: SFAS No. 157 may result in a decrease in financial statement comparability among firms.
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

SFAS No. 157 requires firms to use fair value measurement for certain financial instruments and assets. However, the determination of fair value may be subjective and differ between firms, resulting in a decrease in comparability of financial statements.

SFAS No 157 May Result in a Decrease in Financial Statement