Every company and almost every individual holds fixed assets. Over time, these assets change in value. For example, real estate tends to increase in value, while vehicle values decrease.
In the US, as in most countries, the global crisis has resulted in declines in the real-estate market and employment sectors. These declines result in housing and business property holdings dropping
audit response letter example
market conditions caused the auditors to signal that Bell Canada was insolvent. f) With fair value accounting, due to economic declines, many American Banks are insolvent, i.e., the share values are not supported by revenues or asset-based mortgage holdings. g) With the drop in sales, many companies are unable to make loan repayments against inventory or unsecured loans and are heading for Chapter 11 protection (bankruptcy protection). Banks are facing major unrecoverable losses. What the banks are