Fair value measurement

Fair value accounting continues to be a topic of significant interest and debate. With unprecedented market events, turmoil in the credit markets, and a downturn in the global economy in recent years, discussion of fair value has intensified. This discussion made clear the need for consistent fair value measurements in a global market. To that end, the fair value guidance is a principles-based global framework that, with few exceptions, impacts all fair value measurements in a reporting entity’s financial statements.

Latest developments in Fair value measurement

Post-implementation review underway: The FAF has begun its post-implementation review ("PIR") of Statement 157, the pre-codification predecessor to ASC 820. The PIR seeks to determine if the standard is achieving its stated purpose, evaluate its implementation and continuing compliance costs, and provide recommendations to improve the standard-setting process.

 

Accounting guides

Global Guide to Accounting for Fair Value Measurements - ASC 820

8/23/13 | Assurance services