Even with Fannie and Freddie inflating the bubble and the Fed and the rest of the Bush Administration weakening the dollar, the crisis never would have become so unprecedentedly destructive but for a seemingly arcane accounting principle called mark-to-market, or fair value, accounting.

FORBES: Magazine Article

Sometimes when IFRS is discussed, especially with regard to the roadmap for adoption in the United States, the accounting framework is conflated with the accounting standard or principle.

FORBES: Crisis? What Crisis? Don't Blame The Accounting

For example, one accounting concept that distorts financial realities is the principle of depreciation.

FORBES: The P/E Problem

Since the world is not perfect, while the principle remains intact, there are a few accounting glitches along the way that muddy the waters a bit.

FORBES: The Income Side of GDP