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FASB Tests Materiality Ideas With Fair-Value Disclosure Proposal

Tammy Whitehouse | December 7, 2015

As part of its effort to improve disclosure requirements, the Financial Accounting Standards Board is proposing some new disclosure provisions around fair value measurements that the board believes will make fair value disclosures more meaningful to investors.

This specific proposal on fair value disclosures is an extension of an earlier proposal FASB issued to revise its guidance on materiality. FASB’s earlier proposals on materiality of disclosures drew early criticism from investor advocates who were concerned FASB was raising the bar on disclosures in a way that would reduce the information provided to investors. FASB says it is aligning its guidance with legal concepts around materiality as it is understood in the United States and clarifying...

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