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Fairfax Financial: Fair and Friendly Accounting Treatments?
內容大綱
With the issuance of Muddy Waters’ short report on Fairfax Financial Holdings Ltd. (Fairfax), Fairfax faced intensive scrutiny but continued to support its financial reporting decisions. The case investigates three accusations by Muddy Waters against Fairfax. The goal is to assess the merit of these claims against generally accepted accounting principles (GAAP). Along with the analysis surrounding the basis of accounting, this case gives students the opportunity to investigate short selling and the impacts of short reports on investor decision-making.
學習目標
This case can be used in advanced accounting and/or financial reporting courses at the undergraduate or graduate level. <br><br>Working through the case and assignment questions will give students the opportunity to do the following:<ul><li>Understand the business model of insurance investment holding firms. </li><li>Understand short selling and be exposed to an actual short report. </li><li>Learn accounting for investments and consolidations under International Financial Reporting Standards (IFRS). </li><li>Gain exposure to IFRS 17, the new accounting standard for insurance contracts.</li></ul>