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The Implementation Of Financial Accounting Standard 107, Dale Clayton
The Implementation Of Financial Accounting Standard 107, Dale Clayton
Honors Capstones
The FASB passed Accounting Standard 107 requiring all companies to disclose the fair value of their financial instruments . Implementation of this standard is easy for most companies but financial institutions have a wide variety of financial instruments that must be disclosed at fair value . Determining the fair value of these instruments presents some problems for financial institutions because many of them are not readily marketable therefore, they have no quoted market prices . The purpose for this paper is to address the methods of determining fair value as set forth by the FASB and to evaluate the reliability …