The Financial Accounting Standards Board has issued a proposal providing companies with the option to report financial assets and liabilities at fair value.The board said that the change is aimed at simplifying accounting, as well as reducing the earnings volatility caused by differences in existing accounting rules. The new standard would allow companies to measure financial assets and liabilities at fair value selected on a contract-by-contract basis.

Companies will be required to display those values separately from those measured under different attributes on the face of the balance sheet.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access