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Fair value measurement

Background

This project is part of the Memorandum of Understanding (MoU) between the IASB and FASB.

The objective of this project is to provide guidance to entities on how they should measure the fair value of assets and liabilities when required by other Standards. This project will not change when fair value measurement is required by IFRSs.

 

Current status of the project

The IASB issued IFRS 13 Fair Value Measurement on 12 May 2011.

The IASB and FASB are currently considering the development of educational material relating to fair value measurements.

 

Project milestones

DateDevelopmentComments
September 2005 Added to the active agenda
15 September 2006 FASB issues SFAS 157 Fair Value Measurements
30 November 2006 Discussion Paper Fair Value Measurements published (in two parts) Comment deadline 2 April 2007, extended to 4 May 2007
June 2008 IASB forms Expert Advisory Panel on Valuing Financial Instruments in Inactive Markets
31 October 2008 IASB publishes Report of its Expert Advisory Panel on Valuing Financial Instruments in Inactive Markets
28 May 2009 Exposure Draft ED/2009/5 Fair Value Measurement published Comment deadline 28 September 2009
16 December 2009 IASB requests examples and case studies from emerging and transition economies Deadline 31 January 2010
29 June 2010 Exposure Draft ED/2010/7 Measurement Uncertainty Analysis Disclosure for Fair Value Measurements published Comment deadline 7 September 2010
28 July 2010 Questionnaire for financial statement users on Exposure Draft ED/2010/7
19 August 2010 Staff Draft of IFRS on Fair Value Measurement published
12 May 2011 IFRS 13 Fair Value Measurements published Effective for annual periods beginning on or after 1 January 2013
19 October 2012 Educational guidance draft Measuring the fair value of unquoted equity instruments within the scope of IFRS 9 Financial Instruments published Comment not formally sought, draft made available until the end of November 2012
20 December 2012 Educational guidance first chapter Measuring the fair value of unquoted equity instruments within the scope of IFRS 9 Financial Instruments published  

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