ASC 820 (Formerly SFAS 157) provides guidance to entities on how to determine fair value for financial reporting. AccuVal is intimately familiar with this standard and its major implications with respect to accounting for investments and both tangible and intangible assets. Our financial reporting valuations satisfy this statement in all respects so clients can rest assured that a consistent framework is applied. Fair value is defined as:
"The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date."
When estimating fair value, the statement emphasizes that market inputs should be used in valuing assets or liabilities. Backed by the world’s largest database of transaction information, AccuVal appraisers are well-equipped with current market data.
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