GAAP standards state that financial information should be reliable
and relevant which can’t be said using the fair value method. The
most emphasized point in the article, “Fair Value Under Fire,” was
that fair value increases estimation uncertainty because of the lack
of relevant information that’s needed. If we just stopped using fair
value the our company would be more affected, so we should
determine any patterns of fluctuations between assets and liabilities.
Using previous financial statements, we would be able to make
predictions to lessen the impact of the estimation uncertainty.
