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March 2011 » Estimating the Fair Value of Investments...
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Matthew Crane, CPA/ABV, and Robert A. Dyson, CPA
In September 2006, FASB issued Statement of Financial Accounting Standards (SFAS) 157, Fair Value Measurements (now Accounting Standards Codification [ASC] section 820-10, Fair Value Measurements and Disclosures), with the stated objective of simplifying the measurement and disclosure of fair value information. The application of this guidance to investments in certain nonpublic entities, such as alternative investments, proved more difficult than originally envisioned. In the authors' opinion, this was due to diverging views on fair value and the difficulty in obtaining information on alternative investments.
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