In praise of mark to market accounting

posted by
October 9, 2011
Adam Smith Institute
by Tim Worstall  
Posted in Commentary

"There's a useful idea out there: things are worth what they're worth. No, not what you paid for them, not what you think they might be worth in the future, but what someone will pay you for whatever it is. There's a further useful idea: that the accounts of an organisation should reflect this idea. What is owned by a corporation, a bank, should be listed in the books as being worth what someone will pay for them." (10/08/11)  

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