Fair value accounting continues to be a topic of significant interest and debate among the preparers and users of financial information. The fair value standards, Accounting Standards Codification 820,Fair Value Measurement (ASC 820) and IFRS 13, Fair Value Measurement (IFRS 13), are principles-based standards that, with few exceptions, impact all fair value measurements in a reporting entity’s financial statements. Our popular global guide, Fair value measurements, global edition, helps reporting entities meet the challenges of applying the key accounting standards under both U.S. GAAP and IFRS related to fair value measurements.
In this guide, we describe the key concepts and requirements of these standards and include specific discussion of the impact of the fair value measurement requirements in significant accounting areas such as:
The guide provides an overall framework for the application of fair value measurements; highlights key questions and answers; and offers our perspectives throughout, based on our analysis of the guidance and experience in applying it.
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