FAS 159FV Option - Statement of Financial Accounting Standards No 159 The Fair Value Option for Financial Assets and Financial Liabilities 1 FAS

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Statement of Financial Accounting Standards No. 159 The Fair Value Option for Financial Assets and Financial Liabilities 1. FAS 159 was issued to: Permit entities to choose to measure many financial instruments and certain other items at fair value. To improve financial reporting by providing entities with the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. 2. The Fair Value Option a. All entities are permitted to choose, at specified election date, to measure eligible items at fair value. A business entity shall report unrealized gains and losses on items for which the fair value option has been elected in earnings. Upfront costs and fees related to items for which the fair value option is elected shall be recognized in earnings as incurred and not deferred. b.
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This note was uploaded on 07/08/2011 for the course ACG 4133c taught by Professor Ajinka during the Summer '08 term at University of Florida.

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FAS 159FV Option - Statement of Financial Accounting Standards No 159 The Fair Value Option for Financial Assets and Financial Liabilities 1 FAS

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