Document in text mode:

Fair value measurementQuestions and answersUS GAAP and IFRSDecember 2017kpmg.com$¥£€ ContentsContentsComparability is the challenge 1About the standards 2About this publication 4A. An introduction to fair value measurement 6B. Scope 8C. The item being measured and the unit of account 18D. Market participants 29E. Principal and most advantageous markets 32F. Valuation approaches and techniques 40G. Inputs to valuation techniques 50H. Fair value hierarchy 61I. Fair value at initial recognition 70J. Highest and best use 75K. Liabilities and own equity instruments 79L. Portfolio measurement exception 88M. Inactive markets 95N. Disclosures 99O. Application issues: Derivatives and hedging 113P. Application issues: Investments in investment funds 134Q. Application issues: Practical expedient for investments in investment companies 139Appendix: Index of questions and answers 147Appendix: Effective dates – US GAAP 155Acknowledgments 157Keeping in touch 158 © 2017 KPMG LLP, a Delaware limited li...