Guidance for measuring fair value.

• Position: FASB News - Brief article

The Financial Accounting Standards Board has issued Statement of Financial Accounting Standards No. 157, providing enhanced guidance for using fair value to measure assets and liabilities.

The standard also responds to investors' requests for expanded information about the extent to which companies measure assets and liabilities at fair value; the information used to measure fair value; and the effect of fair value measurements on earnings.

The standard, which is effective for financial statements issued...