Q&A | December 2017


Q&A: Fair value measurement

KPMG’s interpretive guidance on ASC 820 and IFRS 13, including Q&As and illustrative examples. KPMG addresses frequently asked questions about applying the fair value measurement guidance under US GAAP and IFRS.


  • All companies whose financial statements include estimates of fair value, either in measuring the carrying amount of assets and/or liabilities, or in note disclosures

Relevant dates

  • Effective immediately

Key impacts

Responses to common questions on:

  • Scope
  • The item being measured (the unit of account)
  • Selecting appropriate valuation approaches and techniques
  • Determining the inputs to measure fair value
  • Measuring fair value
  • Disclosures
  • Application issues

Report contents

  • Scope and overview
  • The item being measured and the unit of account
  • Market participants
  • Principal, most advantageous and inactive markets
  • Valuation approaches and techniques, and inputs to valuation techniques
  • Fair value hierarchy
  • Highest and best use
  • Liabilities and own equity instruments, and the portfolio measurement exception
  • Disclosures
  • Application issues

Spotlight on contributors

Michael Hall

Michael Hall

Partner, DPP, KPMG US

+1 212-872-5665
Mahesh Narayanasami

Mahesh Narayanasami

Partner, Audit, KPMG US

+1 212-954-7355
Robin Van Voorhies

Robin Van Voorhies

Director, Dept. of Professional Practice, KPMG US

+1 617-988-5637



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