Fair value accounting continues to be a topic of significant interest and debate. 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 idea of the fair value hierarchy is twofold: 1) valuation, to maximize use of the most observable inputs, and for 2) disclosure, to increase consistency and comparability in reporting fair values. Hear Pwc’s Maria Constantinou discuss the basics of the fair value hierarchy, some thoughts on where you apply judgement, and examples in each level.
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