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ASC 820 — Fair Value Measurements and Disclosures

ASC 820, Fair Value Measurements and Disclosures, applies to U.S. GAAP that require or permit fair value measurements or disclosures and provides a single framework for measuring fair value and requires disclosures about fair value measurement. The Topic defines fair value on the basis of an "exit price" notion and uses a "fair value hierarchy," which results in a market-based — rather than entity-specific — measurement.


Related resources

See our comprehensive collection of news and publications related to fair value measurements and disclosures.


International guidance

For the IASB's guidance on the topic, see IFRS 13, Fair Value Measurement.



The full text of ASC 820 can be found in the FASB Accounting Standards Codification (link to the FASB's Web site; registration required). Also, the full text of the Codification and Deloitte-authored Q&As related to the Codification are available in the Deloitte Accounting Research Tool (DART) Web site (subscription required).


This Topic does all of the following:

  1. Defines fair value
  2. Sets out in a single Topic a framework for measuring fair value
  3. Requires disclosures about fair value measurements.

This Topic explains how to measure fair value for financial reporting. It does not require fair value measurements in addition to those already required or permitted by other Topics and is not intended to establish valuation standards or affect valuation practices outside of financial reporting.

Content from the FASB Accounting Standards Codification® included at is copyrighted by the Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, and is reproduced with permission.

FASB Accounting Standards Updates

    The following ASUs amended the guidance in this Topic:

    Proposed FASB Accounting Standards Updates

    No current proposed ASUs on Topic 820.

    Correction list for hyphenation

    These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.