The Financial Accounting Standards Board reaffirmed an earlier vote against a blanket deferral of Statement 157, "Fair Value Measurements," but granted a deferral for some assets and liabilities.

The board decided that for fiscal years beginning after Nov. 15, 2007, companies would still be required to implement the standard for financial assets and liabilities as well as for any other assets and liabilities that are carried at fair value on a recurring basis in financial statements.

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