Authoritative Literature

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This section provides authoritative literature that is relevant to financial reporting including Financial Accounting Standards Board pronouncements and others.

Fair Value Authoritative Literature

In February 2007 the FASB issued Statement of Financial Accounting Standards No. 159, The Fair Value Option for Financial Assets and Financial Liabilities (FAS159), which is effective for fiscal years beginning after November 15, 2007. This Statement permits entities to choose to measure many financial instruments and certain other items at fair value. This Statement also amended APB Opinion 21, FAS 57, FAS 95, FAS 102, and FAS 115. Learn More>>

Fair Value Authoritative Literature

In September 2006 the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 157, Fair Value Measurements (FAS157), which is effective for fiscal years beginning after November 15, 2007. This Statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. This Statement affected or amended a number of previous APB and FASB Statements. Learn More>>

SAS No. 101, Auditing Fair Value Measurements and Disclosures

This article includes guidance regarding auditing fair value measurements. SAS No.101 provides a general framework for auditing fair value measurements and disclosures. Learn More>>

SAS No. 73, Using the Work of a Specialist

This article includes guidance regarding using the work of a specialist in performing an audit in accordance with generally accepted auditing standards. Learn More>>

Links to Fair Value Authoritative Literature

This section provides authoritative literature that is relevant to financial reporting including Financial Accounting Standards Board (FASB) pronouncements and others. Learn More>>