Norwalk, Conn. (June 25, 2004) -- The Financial Accounting Standards Board has published an exposure draft on fair value measurements in response to requests from constituents to improve guidance for measuring fair value.

The exposure draft would expand current disclosures about the use of fair value to measure assets and liabilities. The disclosures focus on the methods used for the measurements and would apply whether the assets and liabilities are measured at fair value in all periods, such as trading securities, or only in some periods, such as impaired assets.

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