The article analyzes the Financial Accounting Standards Board's Statement of Financial Accounting Standards (SFAS) 157, Fair Value Measurements. SFAS 157 provides a comprehensive framework plus specific implementation guidance on the measurement of fair value and required disclosures. It supersedes the piecemeal guidance on fair value contained in previous standards. It includes sections on its scope, fair value measurement, initial recognition, valuation techniques, inputs to valuation techniques, fair value hierarchy, disclosures and transition issues.
Available at: http://works.bepress.com/robert_bloom1/13/