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(474)
- News (71)
- Research (343)
- Multimedia (1)
- Faculty Publications (176)
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- 2022
- Article
Regulatory Treatment of Changes in Fair Value and the Composition of Banks' Investment Portfolios
By: Michael Iselin, Jung Koo Kang and Joshua Madsen
In their implementation of Basel III, U.S. bank regulators are again including changes in the fair value of available-for-sale (AFS) debt securities in Tier 1 capital, but only for the largest U.S. banks. This paper investigates a potential impact of expanding this... View Details
Keywords: Fair Value Accounting; SFAS 115; Basel III; Governing Rules, Regulations, and Reforms; Banks and Banking; Debt Securities; Credit; Risk and Uncertainty; Investment Portfolio; Decision Making; Banking Industry; United States
Iselin, Michael, Jung Koo Kang, and Joshua Madsen. "Regulatory Treatment of Changes in Fair Value and the Composition of Banks' Investment Portfolios." Journal of Financial Reporting 7, no. 1 (2022): 123–143.
- 2011
- Book
Fair Value Measurements Answer Book
By: H. David Sherman
Save time and eliminate uncertainties with the Fair Value Measurements Answer Book (formerly the FAS 157 Answer Book), the most comprehensive and authoritative resource for getting quick and accurate information about the adoption, planning, and implementation of ASC... View Details
Sherman, H. David. Fair Value Measurements Answer Book. Chicago, IL: CCH Incorporated, 2011.
- 2014
- Working Paper
Private Equity's Diversification Illusion: Economic Comovement and Fair Value Reporting
By: Kyle Travis Welch
This study examines how accounting has informed private equity diversification claims and demand for private equity investments. Despite research showing private equity lacks portfolio diversification benefits, those marketing private equity assets continue to... View Details
Keywords: Fair Value; Access To Capital; IAS 39; FAS No. 157; FASB; IASB; ASC 820; Covariance Risk; Accounting Beta; Accounting; Private Sector; Valuation; Corporate Finance; Asset Management; Cost of Capital; Private Equity; Accounting Industry; Financial Services Industry; Europe; North and Central America
Welch, Kyle Travis. "Private Equity's Diversification Illusion: Economic Comovement and Fair Value Reporting." Working Paper, January 2014.
- 2017
- Other Teaching and Training Material
Financial Accounting Reading: Fair Value Measurement in Accounting
By: David F. Hawkins
The objective of this reading is to enhance student understanding of the concept of fair value as used in accounting. It is not intended to expand a student's knowledge of specific accounting applications of fair value at the transaction level. This Reading includes an... View Details
Hawkins, David F. "Financial Accounting Reading: Fair Value Measurement in Accounting." Core Curriculum Readings Series. Harvard Business Publishing 5083, 2017.
- November 2017 (Revised August 2018)
- Case
Fair Value Accounting at Noble Group (A)
By: Siko Sikochi, Suraj Srinivasan and Quinn Pitcher
Noble Group was a large commodities trader based in Hong Kong and listed on the Singapore Stock Exchange. In 2012, Noble shifted its business strategy towards an asset-light model. Under this model, Noble did not own mines or farms to produce commodities but built... View Details
Sikochi, Siko, Suraj Srinivasan, and Quinn Pitcher. "Fair Value Accounting at Noble Group (A)." Harvard Business School Case 118-034, November 2017. (Revised August 2018.)
- November 2009
- Article
Is it Fair to Blame Fair Value Accounting for the Financial Crisis?
By: Robert C. Pozen
When the credit markets seized up in 2008, many heaped blame on "mark to market" accounting rules, which require banks to write down their troubled assets to the prices they'd fetch if sold on the open market - at the time, next to nothing. Recording those assets below... View Details
Keywords: Cost Accounting; Fair Value Accounting; Financial Crisis; Assets; Governing Rules, Regulations, and Reforms; Crisis Management; Standards; Banking Industry
Pozen, Robert C. "Is it Fair to Blame Fair Value Accounting for the Financial Crisis?" Harvard Business Review 87, no. 11 (November 2009).
- January 2018 (Revised August 2018)
- Supplement
Fair Value Accounting at Noble Group (B)
By: Siko Sikochi, Suraj Srinivasan and Quinn Pitcher
Following a series of reports by Iceberg Research alleging that Noble Group was too aggressive in its fair value accounting for contracts and investments in producers, Noble’s stock price continued to fall and stakeholders began to call for improved transparency in... View Details
Sikochi, Siko, Suraj Srinivasan, and Quinn Pitcher. "Fair Value Accounting at Noble Group (B)." Harvard Business School Supplement 118-062, January 2018. (Revised August 2018.)
- November 2009 (Revised November 2010)
- Case
SIPEF: Biological Assets at Fair Value under IAS 41
This case examines fair value accounting under lAS 41 for a European-listed agricultural firm. Students identify the firm's core operations, distinguishing the IFRS treatment for three distinct assets: land, agricultural assets that reside on the land, and inventory... View Details
Keywords: Business Earnings; Fair Value Accounting; Financial Reporting; International Accounting; Standards; Valuation; Agriculture and Agribusiness Industry; Europe
Riedl, Edward J., and Kristin Elaine Meyer. "SIPEF: Biological Assets at Fair Value under IAS 41." Harvard Business School Case 110-026, November 2009. (Revised November 2010.)
- March 2009 (Revised February 2011)
- Background Note
Note: Fair Value Accounting for Investments in Debt Securities
The note describes how fair value accounting applies to debt securities that are classified by financial institutions as (1) "trading" securities, (2) "available for sale" securities, or (3) "hold to maturity" securities. It explains the hierarchy for inputs used in... View Details
Fruhan, William E. "Note: Fair Value Accounting for Investments in Debt Securities." Harvard Business School Background Note 209-134, March 2009. (Revised February 2011.)
- August 2018 (Revised April 2019)
- Case
Fair Value Accounting at Berkshire Hathaway Inc. (A)
By: Jonas Heese, Suraj Srinivasan, Francois Brochet and Christine Johnson
In May 2018, Berkshire Hathaway announced an unprecedented loss of more than $1 billion for the first quarter of 2018. Warren Buffett blamed this loss on the new accounting rules for equity securities which he criticized. In the case ‘Fair Value Accounting at Berkshire... View Details
Keywords: Equity Securities; FASB; Fair Value Accounting; Governing Rules, Regulations, and Reforms; Financial Services Industry
Heese, Jonas, Suraj Srinivasan, Francois Brochet, and Christine Johnson. "Fair Value Accounting at Berkshire Hathaway Inc. (A)." Harvard Business School Case 119-030, August 2018. (Revised April 2019.)
- 18 Aug 2009
- News
Disclose the fair value of complex securities
- July 2003
- Article
Fair Value Accounting For Restricted Stock Awards
By: David Hawkins
Keywords: Fair Value Accounting
Hawkins, David. "Fair Value Accounting For Restricted Stock Awards." Accounting Bulletin, no. 122 (July 2003).
- March 2019
- Supplement
Fair Value Accounting at Berkshire Hathaway Inc. (B)
By: Jonas Heese, Suraj Srinivasan and Francois Brochet
This case serves as a complement to the case "Fair Value Accounting at Berkshire Hathaway, Inc. (A)". View Details
Heese, Jonas, Suraj Srinivasan, and Francois Brochet. "Fair Value Accounting at Berkshire Hathaway Inc. (B)." Harvard Business School Supplement 119-090, March 2019.
- 2009
- Other Unpublished Work
Disclose the Fair Value of Complex Securities
By: Robert Kaplan, Robert C. Merton and Scott Richard
Kaplan, Robert, Robert C. Merton, and Scott Richard. "Disclose the Fair Value of Complex Securities." Financial Times Ltd., August 2009. (op-ed.)
- January 2013 (Revised February 2013)
- Case
Goldman Sachs: Stay with Fair Value Accounting? (A)
By: David F. Hawkins and Aldo Sesia
Hawkins, David F., and Aldo Sesia. "Goldman Sachs: Stay with Fair Value Accounting? (A)." Harvard Business School Case 113-015, January 2013. (Revised February 2013.)
- January 2013 (Revised February 2013)
- Supplement
Goldman Sachs: Stay with Fair Value Accounting? (B)
By: David F. Hawkins and Aldo Sesia
Hawkins, David F., and Aldo Sesia. "Goldman Sachs: Stay with Fair Value Accounting? (B)." Harvard Business School Supplement 113-043, January 2013. (Revised February 2013.)
- October 2011
- Article
Fair Pricing
By: Julio J. Rotemberg
This paper explores the consequences of supposing that consumers see a firm as fair if they cannot reject the hypothesis that the firm is somewhat benevolent towards them. When consumers can reject this hypothesis, some become angry, which is costly to the firm. The... View Details
Rotemberg, Julio J. "Fair Pricing." Journal of the European Economic Association 9, no. 5 (October 2011).
- January 2019 (Revised March 2019)
- Teaching Note
Fair Value Accounting at Berkshire Hathaway Inc. (A) and (B)
By: Jonas Heese, Suraj Srinivasan, Francois Brochet and Christine Johnson
Teaching Note for HBS No. 119-030 and HBS No. 119-090 View Details
Accuracy, Timeliness, and Managerial Discretion of Fair Value Pricing Evidence from the US Banking Industry
This paper investigates how recent institutional developments impact the potential channels, and thus available discretion, by which managers can manipulate reported fair values. First, I use extensive field research to document the mechanisms used by banks to procure... View Details
- 2008
- Working Paper
Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry
By: Karl A Muller III, Edward J. Riedl and Thorsten Sellhorn
We examine the causes and consequences of European real estate firms' decisions to provide investment property fair values prior to the required disclosure of this information under International Financial Reporting Standards (IFRS). We find evidence that investor... View Details
Keywords: Fair Value Accounting; Financial Reporting; International Accounting; Corporate Disclosure; Standards; Real Estate Industry; European Union
Muller, Karl A., III, Edward J. Riedl, and Thorsten Sellhorn. "Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry." Harvard Business School Working Paper, No. 09-033, September 2008.