FASB proposes fair value disclosures for 2009
01 Sep 2009
The US Financial Accounting Standards Board (FASB) has issued an exposure draft (ED) of a proposed Accounting Standards Update intended to improve disclosures about fair value (FV) measurements.
Proposed new and revised disclosures include:
- Effect of reasonably possible alternative Level 3 measurements (measurements based on unobservable inputs) that could increase or decrease FV significantly – sometimes called sensitivity disclosures
- Transfers of assets or liabilities among Level 1, 2, and 3 measurements
- Information about gross purchases, sales, issuances, and settlements of assets or liabilities whose FV is measured using a Level 3 FV measurement
- Disaggregated disclosures of FV for each class of assets and liabilities
- Valuation techniques and inputs used to measure FV using Level 2 and 3 measurements
