I will look at fair value accounting and depreciation. Fair value is the market value at which an asset can be sold or bought. Ryan (2008) highlights many criticisms of fair value accounting, including that reported losses are misleading because when markets return to normal, the losses reverse. When a company revalues ​​its assets or liabilities at a time when market conditions are poor, the value of the assets and liabilities begins to "oscillate." However, once the market stabilizes, assets and liabilities will be revalued to their original levels. This makes reporting of gains and losses temporary, which can mislead potential investors (Penman, 2007). Fair values ​​are unreliable because they are difficult to estimate, especially if the market is illiquid. And reported losses generate new losses, which increases the overall risk of the financial system. For example, if the current market price of an asset falls and the asset is thus revalued downward, people might start buying that asset at even lower prices (Benston,