The most significant changes to fair value accounting rules since the Financial Accounts Standards Board (FASB) released SFAS No. 157 in 2006 are now fully in effect, with calendar-year companies required to comply with them for the reporting period that ended on 3/31/12. But the full impact of the amendments is still not widely understood, even by many valuation professionals. Accounting Standards Update (ASU) No. 2011-04, issued in May 2011, is more than 300 pages long and includes complex changes to how valuations must be carried out and disclosed. Click here to continue reading the full article.
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