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FASB proposes amendments to the disclosure requirements for fair value measurements

  • FASB document Image

Dec 03, 2015

The FASB has issued a proposed Accounting Standards Update (ASU), “Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement,” that would amend the requirements in ASC 820 for disclosing fair value measurements.

The proposal is part of the FASB’s disclosure framework project, which the Board launched in March 2014 to improve the effectiveness of disclosures in the notes to the financial statements.

Among other changes, the proposed ASU would introduce a potentially significant new requirement for public business entities to provide information about unrealized gains and losses arising during the reporting period separately for Level 1, Level 2, and Level 3 fair value measurements (currently, this information is only required for Level 3 fair value measurements).

Comments on the proposal are due by February 29, 2016. For more information, see Deloitte's Heads Up newsletter as well as the proposed ASU, press release, and information piece on the FASB’s Web site.

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