Accounting and Fair Value

A series on the accounting standards used in financial reporting and how they define and measure fair value, starting with IFRS.

Questions this series answers:

• How are financial instruments classified, impaired and hedged?

• What is fair value, and how is it measured?

• What are Levels 1, 2 and 3?

• How does US GAAP compare?

• IFRS: Introduction to International Financial Reporting Standards
• IFRS 9: Financial Instruments
• IFRS 13: Fair Value Measurement
• Fair-value hierarchy: Levels 1, 2 and 3
• US GAAP: How It Differs from IFRS