For the purpose of fair value measurements, “inputs” are the assumptions that market participants would use in pricing an asset or liability, including assumptions regarding risk. In measuring fair value of asset or liability, valuators (and other readers of companies’ financial statements) would need to understand with means of prioritizing of those assumptions used as to their level of objectivity and verifiability in the marker place. It needs a framework. For serving the purpose GAAP’s Accounting Standard Codificiation (ASC) provides the [...]