http://www.sec.gov/spotlight/fairvalue.htm consistency and comparability in fair value measurements and for expanded disclosures about fair value measurements. Differences between This Statement and Current Practice The changes to current practice resulting from the application of this Statement relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurements. The definition of fair value retains the exchange price notion in earlier definitions of fair value. This Statement clarifies that the exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability in the market in which the reporting entity would transact for the asset or liability, that is, the principal or most advantageous
<< Back to article
