Firms Explore Valuation Options For FASB 157 Compliance
The new rule establishes a framework for measuring fair value in accordance with Generally Accepted Accounting Principles (GAAP) and requires firms to disclose the fair value measurement of securities, and to establish a hierarchy to distinguish whether the valuation of a security was based on observable inputs or on the firm's own assumptions. For example, a Level 1 input is a quoted price for a frequently traded security. Firms must comply with SFAS 157 for fiscal years beginning after Nov. 15
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