Mark to (Secondary) Market: Take Two
Yesterday I wrote about the AICPA’s recent draft issues paper, which tackles ways for LPs to implement FASB 157. The story highlighted the opinions of a few unnamed LPs, who expressed frustrations with the paper’s guidelines, and several others left lengthy comments. (View that, along with the actual paper, here.) But that’s just one side of the coin. There are others who think these dissenters are just unhappy with mark-to-market in general, and that the ultimate outcome of the paper’s “considerations” would be a positive. In a few quarters, LPs will have more accurate holding values for LP portfolios, they say. One advisor I talked to said that LPs are angry because it means more work for them.
22 January 2009•2 mins read
