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Chapter 5 — Broad Transactions

5.4 Fair Value Measurement

5.4 Fair Value Measurement

IFRS Accounting Standards and U.S. GAAP are largely converged though not identical in their requirements for measuring fair value and disclosing information about fair value measurements. For example, there are differences in their requirements for when an entity is required or permitted to measure items at fair value. The table below summarizes the key differences between IFRS Accounting Standards and U.S. GAAP regarding fair value measurement.