Sfas 157

Financial Accounting Standards Board

ORIGINAL PRONOUNCEMENTS
AS AMENDED

Statement of Financial Accounting Standards No. 157
Fair Value Measurements

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FAS157

Statement of Financial Accounting Standards No. 157 Fair Value Measurements
STATUS
Issued: September 2006 Effective Date: For financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years Affects: Amends APB 21,paragraphs 13 and 18 Deletes APB 21, footnote 1 Amends APB 28, paragraph 30 Amends APB 29, paragraphs 18 and 20(a) Deletes APB 29, paragraph 25 and footnote 5 Amends FAS 13, paragraph 5(c) Amends FAS 15, paragraphs 13 and 28 Deletes FAS 15, footnotes 2, 5a, and 6 Amends FAS 19, paragraph 47(l)(i) Amends FAS 35, paragraph 11 and footnote 5 Deletes FAS 35, footnote 4a Amends FAS 60, paragraph 19Deletes FAS 60, footnote 4a Amends FAS 63, paragraphs 4, 8, and 38 through 40 Amends FAS 65, paragraphs 4, 6, 9, 10, 12, and 29 Amends FAS 67, paragraphs 8 and 28 Deletes FAS 67, footnote 6 Amends FAS 87, paragraphs 49 and 264 and footnote 12 Deletes FAS 87, footnote 11a Amends FAS 106, paragraphs 65 and 518 and footnote 21 Deletes FAS 106, footnote 20a Deletes FAS 107, paragraphs 5, 6, 11, and 18through 29 Amends FAS 107, paragraphs 9, 10, 30, and 31 Amends FAS 115, paragraphs 3(a) and 137 Replaces FAS 115, footnote 2 Amends FAS 116, paragraphs 19, 20, 184, 186, and 208 Deletes FAS 116, footnote 8 Amends FAS 124, paragraphs 3(a) and 112 Replaces FAS 124, footnote 3 Deletes FAS 133, paragraph 16A and footnote 6c Amends FAS 133, paragraphs 17 and 540 Effectively deletes FAS 133, footnotes 9b,10b, 18a, 18b, 20a through 20e, and 24a Amends FAS 136, Summary and paragraphs 15 and 36 Amends FAS 140, paragraphs 11(c), 17(h), 17(i), 63(b), and 364 Deletes FAS 140, paragraphs 68 through 70 and footnotes 20 and 21 Amends FAS 141, paragraph F1 Amends FAS 142, paragraphs 3, 19, 23, and F1 Deletes FAS 142, paragraphs 24, E1, and E2 and footnotes 12 and 16 Deletes FAS 143, paragraphs 6, 7, 9,A19, and F1 through F4 and footnotes 5 through 8, 17, and 19 Amends FAS 143, paragraphs 8, A20, A21, A26, C1, C3(d), C4, C6 through C9, C11, and C12 and footnotes 12 and 18 Deletes FAS 144, paragraphs 22, 24, A12, and E1 through E3 and footnotes 12 through 14, 28, and 29 Amends FAS 144, paragraphs 23, A6 through A8, A11, A13, and A14

FAS157–1

FAS157

FASB Statement of Standards

DeletesFAS 146, paragraphs 5, A4, and A5 and footnotes 13 through 16 Amends FAS 146, paragraph A2 Amends FAS 150, paragraph D1 Deletes FAS 156, paragraph 3(c) Amends FIN 45, paragraphs 9(a) and 9(b) Affected by: Paragraph 2 amended by FSP FAS 157-1, paragraph 9(a) Paragraph 36 amended by FSP FAS 157-2, paragraph 11 Paragraph D1 amended by FSP FAS 157-1, paragraph 9(b) Footnote 2 amended by FAS 141(R),paragraph E4(a) Other Interpretive Releases: FASB Staff Positions FAS 157-1 and FAS 157-2 Issues Discussed by FASB Emerging Issues Task Force (EITF) Affects: Modifies EITF Issue No. 02-3 Interpreted by: No EITF Issues Related Issues: No EITF Issues

SUMMARY
This Statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), andexpands disclosures about fair value measurements. This Statement applies under other accounting pronouncements that require or permit fair value measurements, the Board having previously concluded in those accounting pronouncements that fair value is the relevant measurement attribute. Accordingly, this Statement does not require any new fair value measurements. However, for some entities, the...