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NorthStar Realty Finance Corp. Message Board

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  • lner2512 lner2512 Jun 3, 2008 2:25 AM Flag

    FAS 159

    They now say kudzu is edible! Probably tastes as good as mark-to-market accounting.

    The accounting profession is skating on thinner and thinner ice with pronouncements like FAS 159, as they drift further from original cost as a measurement basis and cash flows as a primary measure of results. Mark-to-market accounting reminds me of Alice in Wonderland.

 
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