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U.S. comment letter on proposed ASU "Clarifying the Scope and Applicability of a Particular Disclosure to Nonpublic Entities"

Published on: Jan 22, 2013

An excerpt from the comment letter is shown below:

On the basis of the Board’s conclusion that for nonpublic companies the incremental benefit of disclosing information about the fair value hierarchy levels for fair value measurements that are disclosed (but not measured at fair value in the statement of financial position) does not outweigh the costs of providing such disclosures, we support the Board’s decision in the proposed ASU to exempt nonpublic entities from the requirement to disclose the aforementioned information. All other fair value disclosure requirements for nonpublic entities, including information about the fair value hierarchy levels for fair value measurements presented in the balance sheet, should be retained at this time. Additional amendments to the fair value disclosure requirements for nonpublic entities should only be made after consideration of any feedback from constituents on the Board’s pending exposure draft on classification and measurement and from the Private Company Council.

We support the proposed ASU’s effective date and transition.

Full text of the comment letter is available below.


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