A Step Forward For The Valuation Community: SFAS 157 And Fair Value Measurements: An Important New Standard In The Valuation Of Assets For Financial Reporting

Chris Bakewell
Bryan Benoit

Abstract: The U.S. continues to move towards being a knowledge-based economy. However, corporate balance sheets still only present asset values at a given moment in time, and intangible asset values are often not disclosed. A recent accounting pronouncement, SFAS 157, requires more detail and is an important step towards more meaningful presentation of the value of companies’ assets. However, analysis and reconciliation will still be required, particularly for intangible assets.


Anybody who has ever bought or sold a car knows that perceptions of value can differ among a range of possible buyers. Certainly, those that have traded in a car for less than they thought the car was worth sorely understand this concept. Likewise, in the financial world, there are multiple measures and perspectives on value


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