Mark-to-Market in the United Kingdom

摘要

The movement toward mark-to-market (market value) financial reportage in the United States (U.S.) and elsewhere has been the source of much conjecture by direct and indirect participants in both the accounting and valuation communities. The widespread use of such a basis for accounting for real estate has obvious and important implications for appraisers. This article examines the decades-long experience of market value accounting within the United Kingdom (U.K.) as a means of drawing lessons that might be useful to valuation professionals in the United States. The role of governmental and professional regulation is also explored. Lastly, the integration of U.K. standards with the International Financial Reporting Standards (IFRS) and the International Valuation Standards (IVS) is described.