12_Fair_Value_Measurement - 12 FairValueMeasurement...

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Click to edit Master subtitle style Fair Value Measurement Accountancy 301 Professor Clifton Brown 12 October 4, 2010
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Fair value attributes Price that would be received for an asset or paid to  transfer a liability in a transaction between market  participants at the measurement date Asset/liability  aggregation The price The market  participants
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Measurement methods Market  Approach Income  Approach Cost  Approach of the asset/liability being valued 
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Fair value measurement  Level 1 Level 2 Level 3 Quoted prices  (unadjusted) in active  markets for identical  assets or liabilities Inputs other than quoted  prices included within  Level 1 that are  observable for the asset  or liability, either  directly or indirectly Unobservable inputs for  the asset or liability
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2009 LS Sedan 2011 LS Sedan Original MSRP $23,790
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12_Fair_Value_Measurement - 12 FairValueMeasurement...

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