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Heads Up: The FASB Allows a Fair Value Option for Most Financial Assets and Liabilities

Volume 14, Issue 4


The attached issue of Heads Up summarizes FASB Statement No. 159, The Fair Value Option for Financial Assets and Financial Liabilities. Statement 159 offers an irrevocable option to carry the vast majority of financial assets and liabilities at fair value, with changes in fair value recorded in earnings.

Heads Up, published by the National Office Accounting Standards and Communications Group of Deloitte & Touche LLP, provides in-depth summaries of recent accounting and financial reporting developments. This newsletter is published periodically as developments warrant, and is intended for a general audience of financial professionals, including CFOs, controllers, and internal audit and accounting professionals.

Questions, comments, or suggestions concerning Heads Up should be directed to the Accounting Standards and Communications Group mailbox. We welcome and encourage your feedback.

View past issues of Heads Up.

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