1.1 Introduction

Many Codification topics in U.S. GAAP require or permit fair value measurements or disclosures about fair value measurements (as well as fair-value-based measurements, such as fair value less costs to sell, or disclosures about those measurements). This chapter gives an overview of the principles in ASC 820 and of the concepts related to fair value measurements under U.S. GAAP. For a discussion of the scope of ASC 820, see Chapter 2.