FASB guidance on FV of financial instruments in inactive markets
11 Oct 2008
On 10 October 2008, the US Financial Accounting Standards Board issued FASB Staff Position 157-3 ' Determining the Fair Value of a Financial Asset When the Market for That Asset Is Not Active'.
The FSP clarifies the application of FASB Statement No. 157 Fair Value Measurements in a market that is not active and provides an example to illustrate key considerations in determining the fair value of a financial asset when the market for that financial asset is not active. Click to view FASB Staff Position 157-3, Determining the Fair Value of a Financial Asset When the Market for That Asset Is Not Active (PDF 31k). Click here for all of our Credit Crunch Information.
