FASB's VRG discusses six fair value issues

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26 Feb 2008

The US Financial Accounting Standards Board established a Valuation Resource Group (VRG) to provide the FASB staff with information about implementation issues regarding fair value measurements used in financial reporting.

The VRG met on 1 February 2008 and discussed six valuation issues. Deloitte & Touche LLP (United States) has published the 20 February 2008 edition of the Heads Up Newsletter (PDF 117k) explaining the six issues, which are:
  • VRG Issue 2008-1: Accounting for an Asset That the Acquirer Does Not Intend to Use or Intends to Use in a Way Other Than Its Highest and Best Use
  • VRG Issue 2008-2: Customer Relationships
  • VRG Issue 2008-3: Valuation of Intangible Assets Using the 'Current Replacement Cost' Method
  • VRG Issue 2008-4: Meaning of 'Legally Permissible' in Assessing the Highest and Best Use
  • VRG Issue 2008-5: Fair Value of Inventory
  • VRG Issue 2008-6: Allocation of Portfolio-based Credit Adjustments for Hedge Effectiveness Testing

 

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