The Financial Accounting Standards Board has responded to a post-implementation review of its accounting standard for fair value measurement, saying it doesn’t plan to make any comprehensive changes.
Last month, FASB’s parent organization, the Financial Accounting Foundation, released the latest in a series of post-implementation reviews of older accounting standards, in this case of Statement No. 157, “Fair Value Measurement.” The FAF found the standard generally met its objectives, even though it acknowledged that some investors have difficulty understanding the fair value information provided in financial statements, and their level of satisfaction with the information varies (see Fair Value Accounting Standard Gets Mixed Review).
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