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原文:
GAAP UPDATE SERVICE
In May 2009, the International Accounting Standards Board (IASB) issued anExposure Draft (ED) of an International Financial Reporting Standard (IFRS), FairValue Measurement, which used Financial Accounting Standards Board (FASB) Statement No. 157, Fair Value Measurements (now FASB Accounting StandardsCodifi cationTM (ASC) 820, Fair Value Measurements and Disclosures), as a basisfor the proposed defi nition of fair value, a framework for measuring fair value, anddisclosures about fair value. Although the IASB’s proposal was similar to the guidance
in ASC 820, some of its proposed guidance and wording differs from that inASC 820. Consequently, commentators on the ED asked the IASB and the FASBto conform their requirements. This proposed ASU is the result of the IASB’s andFASB’s joint efforts to respond to those requests. Doing so would improve parabilityof fi nancial statements prepared under both sets of standards and wouldreduce diversity in the application of those standards.
The amendments would:
Clarify the FASB’s intent about the application of existing requirements for themeasurement of and disclosure about fair value; Change some existing principles or requirements for measuring fair value anddisclosing information about those measurements; andChange some of the wording in the existing FASB guidance to ensure that measurementsand disclosures under . generally accepted accounting principles (GAAP) are described in the same manner as under IFRS. H. All Rights Reserved.
Analysis and Implementation
Proposed ASU: Fair Value Measurements and Disclosures (Topic 820): Amendments mon Fair Value Measurementand Disclosure Requirements in . GAAP and IFRSsThe FASB issued the ED of the proposed ASU on June 29, 2010. Comments aredue at the FASB on or before September 7, 2010.
Objective for issuing the proposed ASU.
The FASB’s objective for issuing theproposed ASU is to conform that guidance with the guidance and wording in th