Topic #2: Fair Value? Under traditional accounting methodology, historical cost is the accounting evaluation tool....
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Accounting
Topic #2: Fair Value?
Under traditional accounting methodology, historical cost is the accounting evaluation tool. However, when consolidations are implemented, the fair market value is used. Please consider the following questions:
Why is it important that consolidations prescribe to fair value?
When is the adjustment made?
How often is the adjustment recalculated?
How are the adjustments kept?
Respond per your Syllabus guidelines.
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