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On the Radar

Fair Value Measurements and Disclosures (Including the Fair Value Option)

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On the Radar — Fair Value Measurements and Disclosures (Including the Fair Value Option)

Most entities have amounts that are recognized at fair value in their financial statements. ASC 820 defines fair value, sets out a framework for measuring it, and establishes fair value disclosure requirements. However, ASC 820 does not specify when an entity is required or permitted to measure assets, liabilities, equity instruments, or transactions at fair value; this requirement is addressed in other U.S. GAAP.