IASB discussion paper on fair value measurements
30 Nov 2006
The IASB has published for public comment a Discussion Paper on Fair Value Measurements.
The Discussion Paper sets out the IASB's preliminary views on how to measure fair values when fair value measurement is already prescribed under existing IFRSs. It does not propose any extensions of the use of fair values. The Discussion Paper is built around FASB's recently issued SFAS 157 Fair Value Measurements. SFAS 157 establishes a single definition of fair value together with a framework for measuring fair value for financial reports prepared in accordance with US GAAP. The IASB's Discussion Paper:
Click for IASB Press Release (PDF 53k). The Discussion Paper will be available without charge on the IASB's website starting 11 December 2006. Comment deadline is 2 April 2007. The IASB plans to publish an Exposure Draft in 2008.
- indicates the IASB's preliminary views on the provisions of FAS 157;
- identifies differences between FAS 157 and fair value measurement guidance in existing IFRSs; and
- invites comments on the provisions of FAS 157 and on the IASB's preliminary views about those provisions.
Some points about FAS 157:
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