where are we now??, page-12

I'm not sure mark to market is making much difference. Unless you are an unsophisticated investor, you would not look at the P&L. I personally go straight to the cashflow statement. Then maybe the balance sheet and finally the P&L.

All companies now stress the difference between cash and non-cash adjustments. Sophisticated investors would know that the IFRS requirements to mark to market swaps, hedges and derivatives at year end as though you would close out all contracts make no sense unless the solvency of the business is at risk.

For healthy going concern companies, the requirements are esoteric and I would have thought the market knows this.