Heads Up newsletter on fair value measurements
Sep 28, 2006
Deloitte & Touche LLP (United States) has published a special issue of the (PDF 218k) summarising FASB Statement No 157 Fair Value Measurements.
FAS 157, released on 15 September 2006, provides enhanced guidance for using fair value to measure assets and liabilities. It applies whenever other standards require or permit assets or liabilities to be measured at fair value. FAS 157 does not expand the use of fair value in any new circumstances. (PDF 19k). FAS 157 may be Downloaded from FASB's Website without charge. As part of its Fair Value Measurements Project, the IASB intends to issue a Discussion Paper before the end of 2006 that will invite comments on FAS 157 and on the IASB's preliminary views on the principles in FAS 157.
