IASB proposes guidance on fair-value accounting rules

06/1/2009 | CFO.com

The International Accounting Standards Board published draft guidance on how businesses should apply fair-value accounting principles to assets and liabilities and asked for comments on the document. The proposal departs somewhat from the fair-value guidance of the Financial Accounting Standards Board, but the IASB said the differences between the two are minor. If approved, IASB's version of FAS 157 and matching definitions of fair value will become part of IFRS.

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