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Fair Value Essay Topics & Paper Examples

Measuring The Fair Value

Financial Accounting Standard seven (FAS 7) guides entities in determining the fair value estimates for the financial statement needs. This is a general rule that is applied worldwide so that figures appearing in statements may make sense to all stakeholders. Such unbiased figures will be of use incase local companies want to trade internationally, because uniformity in cost or value measurements are made uniform. Financial Accounting Standard one hundred and fifty seven (FAS 157), is applicable to either financial or non financial assets or liabilities being measured fairly as per authorities on accounting pronouncements. The absence of a particular consistent framework in fair value estimates for quoted prices can create inconsistencies or incomparability. The Financial accounting Standards framework does away…