FASB issues Fair Value Standard

The United States Financial Accounting Standards Board (FASB) has recently published a fair value standard. Fair value is currently used in over 40 different standards and guidance is dispersed throughout the literature, so the new standard is expected to enhance consistency and comparability. Fair value measurement forms part of the IASB/FASB convergence program. Therefore, the IASB plans to issue the FASB standard as a discussion paper, accompanied by an invitation to comment. Details are available on the IASB website.