Heads Up: FASB Finalizes ASU on Improving Disclosures About Fair Value Measurements
Volume 17, Issue 6
The attached issue of Heads Up discusses the FASB’s recently issued Accounting Standards Update No. 2010-06, Improving Disclosures About Fair Value Measurements. The ASU amends FASB Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosures (formerly FASB Statement No. 157, Fair Value Measurements) to add new requirements for disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating to Level 3 measurements. It also clarifies existing fair value disclosures about the level of disaggregation and about inputs and valuation techniques used to measure fair value. However, unlike the exposure draft, the ASU does not require entities to provide sensitivity disclosures.
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