FASB rejects deferral of Statement 157.
| Position | FASB News |
FASB reaffirmed its vote against a blanket deferral of Statement 157, Fair Value Measurements. For fiscal years beginning after Nov. 15, 2007, companies will be required to implement the standard for financial assets and liabilities, as well as for any other assets and liabilities that are carried at fair value on a recurring basis in financial statements. As a result, Statement 157 becomes effective as scheduled.
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FASB did, however, provide a...
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