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As a result of the mortgage crisis, many banks reported record losses to their mortgage receivables...

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Accounting

As a result of the mortgage crisis, many banks reported recordlosses to their mortgage receivables and other assets based on thedecline in those assets' fair values.

1. What would the effect be to stakeholders if such losses werenot reported in a timely way?

2. If a business chose not to report the losses, would there bean ethical issue involved? Who would be hurt?

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As a result of the mortgage crisis, many banks reported recordlosses to their mortgage receivables and other assets based on thedecline in those assets' fair values.1. What would the effect be to stakeholders if such losses werenot reported in a timely way?2. If a business chose not to report the losses, would there bean ethical issue involved? Who would be hurt?

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