IASB relaxes fair-value accounting rules, allows reclassification

10/14/2008 | Financial Week

The International Accounting Standards Board has opened the door for companies to avoid fair-value accounting for some securities by reclassifying instruments in their trading portfolios to "held to maturity" securities. Such reclassifications are already permitted under U.S. generally accepted accounting principles but only in rare circumstances. The IASB said in a news release that the rapid deterioration of the world's financial markets justified the immediate publication of its new guidance. Read the IASB announcement.

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