Читать книгу Annual Accounting and Auditing Workshop - Kurt Oestriecher - Страница 47

The following disclosure requirements will no longer be required upon adoption of this ASU:

 The amount and reasons for transfers between level 1 and 2 of the fair value hierarchy

 The policy for timing of transfers between levels

 The valuation processes for level 3 fair value measurements

 For nonpublic entities, the changes in unrealized gains and losses for the period included in earnings for recurring level 3 fair value measurements held at the end of the reporting period

The following disclosure requirements were modified upon adoption of this ASU:

 In lieu of a rollforward for level 3 fair value measurements, a nonpublic entity will be required to disclose the following:Transfers in and out of level 3 of the fair value hierarchyPurchases and issues of level 3 assets and liabilities

 For investments in an investee that calculates net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse. This is required only if the investee has communicated the timing to the entity or publicly announced the timing.

 Any disclosure related to measurement uncertainty is to communicate information about the uncertainty in measurement as of the reporting date (as opposed to the date of issuance of the financial statements).

The following disclosures requirements were added; however, they are not required for nonpublic entities:

 The changes in unrealized gains and losses for the period included in other comprehensive income for recurring level 3 fair value measurements held at the end of the reporting period

 The range and weighted average of significant unobservable inputs used to develop level 3 fair value measurements (For certain unobservable inputs, an entity may disclose other quantitative information in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop the level 3 fair value measurements.)

In addition to the preceding modifications, the code was updated to include the phrase “at a minimum” for all required disclosures related to fair value.