Abstract Presents the author's views on the Financial Accounting Standards Board (FASB) project on present value measurements, based on an FASB Roundtable Discussion. Actions that must be taken by the FASB with respect to present value measurements; Experience of the author while teaching Accounting Theory to undergraduates who have just completed two semesters of intermediate accounting; Discussion on the intersection of balance sheet measurement methods and the measurements that are reasonable to expect accountants and actuaries to provide; Highlights of the report entitled "The FASB Project on Present Value Based Measurements: An Analysis of Deliberations and Techniques"; Discussion of new accounting standards; Arguments supporting incremental consistency as a possible approach in valuation accounting.
Renée Price (Sat,) studied this question.