this is her - Ethical considerations are a concern. I encourage you to connect this evidence with prior discussions on MD&A, and Non-GAAP Accounting to consider why an entire module and two discussions are devoted to this topic. In 2006, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards (SFAS) No. 157 to define fair value accounting under U.S. Generally Accepted Accounting Principles (GAAP). In 2009, SFAS 157 was codified under Accounting Standards Codification (ASC) 820, establishing a single definition of fair value, a framework for its measurement, and enhanced disclosure requirements. Although it did not introduce new fair value measurements, SFAS 157 standardized measurement and disclosure practices. Fair value represents the price at which assets are exchanged or liabilities settled in the market between willing participants. Fair value accounting, however, has become one of the most contentious issues for regulators who oversee financial reporting (Petrovic, Radosavac, & Mashovic, 2023). The U.S. savings and loan crisis of the late 1980s brought market and regulatory attention to limitations of historical cost accounting for financial instruments. Many U.S. banks financed long-term, fixed-rate mortgages with short-term deposits, leaving them vulnerable to interest rate risk due to mismatched durations. Under GAAP at the time, banks recorded loans and deposits at amortized historical cost without fair value disclosures based on exit prices. When interest rates rose, asset cash flows became insufficient to meet liab