Discussion Post: Accounting
Refer to SFAS No. 157: Suppose a your company has investments in a wide array of assets, including (i) common stocks; (ii) bonds; (iii) real estate; (iv) coal mine investments, which receive cash flows from sales of coal; (v) private equity funds; and (vi) illiquid asset-backed securities. Consider how the portfolio manager would estimate the fair values of each of those classes of assets, and characterize the inputs you identify as Level 1, Level 2, or Level 3.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.