It is not intended to expand the use of fair value measurements in financial statements at the present time. In my view, the proposal is a good first step in enhancing fair value measurement guidance, but I believe additional guidance is warranted. The proposal should address reliability issues more comprehensively.
On the other hand, it is pointed out that after an extremely high economic growth, the subsequent adjustment might prove to be severe and also that the adjustment period is practically unpredictable before it is over. In recent months, optimistic views appear to be receding.