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.
The FASB has decided upon the effective dates for the Financial Instruments: Classification and Measurement standard.
PwC's popular global guide to fair value measurements helps entites apply U.S. GAAP and IFRS related to fair value, ASC 820, and IFRS 13.
PwC's popular Financial statement presentation guide addresses U.S. GAAP presentation and disclosure requirements of common balance sheet and income statement accounts.
Entities no longer need to include investments valued using NAV as a practical expedient in the fair value hierarchy.
Watch a replay of our recorded webcast in which we discuss valuation and impairment trends in the energy sector, including key assumptions, inputs and other considerations used by many energy companies in assessing long-lived assets for impairment.
PwC discusses audit committee oversight of fair value measurement, a subjective estimate that may increase financial reporting risk.
GASB's newly released Statement No. 72 prescribes how governments should define and measure fair value.
PwC's summary of the FASB's completed deliberations on its classification and measurement project and its implications.
PwC agrees that the unit of account should be the investment as a whole.
At the 2013 AICPA National Conference on Banks and Savings Institutions, regulators and standard setters shared views on top-of-mind issues for financial institutions.