Fair Value for Investments - A Big Deal or Not?
By: Eric Berman
In 2015, the Governmental Accounting Standards Board (GASB) released GASB Statement No. 72, Fair Value Measurement and Application. GASB Statement No. 72 redefines the term "fair value" and the term "investments." It also includes additional disclosure, which may be lengthy or not, depending on the type of investments held by the government, related to the valuation of investments.
What do these changes mean and how do they impact you?
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