FAS 157 Handbook

ASC 820, formerly referred to as FAS 157, significantly changed how companies approach fair value, particularly for illiquid securities. Since FAS 157 was introduced in 2006, serveral amendments have been issued, which address, e.g., how to treat data on transactions in securities that may or may not be “disorderly.” Our FAS 157 Handbook was designed to make sense of all this, and is based on a well-received presentation on the topic.