Finally, after five years of debate IFRS and the US’s FASB have agreed on definition of ‘Fair Value’. Although it does not change what is measured at fair value in IFRSs or address how to present changes in fair value, it is still beneficial for all the accounting people to know that IFRSs and US GAAP having the same definition and meaning of fair value and the same disclosure requirements about fair value measurements. Under IFRS, the new standard is [...]
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August 8, 2009 4:00 am
