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Tax & Accounting Alert: FASB Issues New Standards for Fair Value Measurement and Disclosures

Posted 12:00 PM by

In conjunction with the International Accounting Standards Board (IASB), the Financial Accounting Standards Board (FASB) recently issued new standards for public and private companies on fair value (FV) measurement and disclosures. Most companies will see little change in how they measure fair value, but they may need to make more extensive disclosures about the processes and assumptions behind those measurements.

The new requirements  found in Accounting Standards Update (ASU) 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs do not extend the use of FV accounting but provide direction on how it should be applied when already required or permitted.

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