FASB issues current position on Fair Value of Financial Asset

FASB STAFF POSITION No. FAS 157-3
Title: Determining the Fair Value of a Financial Asset When the Market for That Asset Is Not Active

Date Issued: October 10, 2008

Objective 1. This FASB Staff Position (FSP) clarifies the application of FASB Statement No. 157, Fair Value Measurements, in a market that is not active and provides an example to illustrate key considerations in determining the fair value of a financial asset when the market for that financial asset is not active. Read entire document [PDF document]