Fri, Oct 29, 2021

How FASB's Proposed Fair Value Measurement Amendment Impacts Alternative Asset Investors

FASB proposed eliminating the ability to reflect a market participant-derived discount for securities contractually restricted from sale and its impact on investment companies in particular investors (limited partners).

Duration: 60 minutes

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Topics

What are the provisions of the proposed amendment to ASC Topic 820?
Why is FASB proposing to change current guidance that allows the impact of contractual restrictions to be considered when estimating fair value?
Is there a practical or economic difference between a security that is legally restricted from sale and a security that is contractually restricted from sale?
What are the reasons for and against the change?
Does the proposed change impact the practical expedient for estimating the fair value of fund interests?
If the proposed change is enacted, what are the transition provisions?

Speakers

James L. Kroeker, Vice Chair, Financial Accounting Standards Board
David L. Larsen, Managing Director, Kroll

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