The fair value standards, ASC 820 and IFRS 13, are principles-based standards that impact nearly all fair value measurements in a reporting entity’s financial statements. Our popular global guide, Fair value measurements, helps reporting entities meet the challenges of applying the key accounting standards under both US 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 investments, impairment, and business combinations.
Our Fair value measurement guide provides an overall framework for the application of fair value measurements; highlights key questions and answers; and offers our perspectives based on our analysis of the guidance and experience in applying it.
Certain updates have been made to reflect the guidance in ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities, and other FASB standards as well as to provide additional guidance on valuation. See Appendix D, Summary of significant changes, for information on the most recent updates.
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