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A comprehensive project summary, prepared by the International Accounting Standards Board (IASB) staff, has been published on the fair value measurement project page.

15-Jul-2010

The project summary provides the background to the IASB's fair value measurement project and explains how the IASB plans to finalise an IFRS on fair value measurement.

This project summary also compares the tentative decisions reached so far in the project with:

• The proposals in the IASB’s May 2009 exposure draft Fair Value Measurement (ED/2009/5); and
• The proposals in the US Financial Accounting Standards Board’s (FASB) exposure draft of a

proposed Accounting Standards Update (ASU) Amendments for Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs, which proposes amendments to Topic 820 Fair Value Measurements and Disclosures in the FASB Accounting Standards CodificationTM (which codified FASB Statement of Financial Accounting Standards No. 157 Fair Value Measurements (SFAS 157)).

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