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Prescribe measurement,
presentation and disclosure
requirements for certain
information included in the
financial statements or for
information disclosed in notes to
financial statements or Permit a choice of method for
presented as supplementary determining fair value from
information. among several alternative
methods(the criteria for selection
Permit certain may or may not be provided by
measurements using fair the financial reporting framework.
values at the option of an
entity or only when certain Provide no guidance on the fair
criteria have been met. value measurements or
disclosures of fair value other
Prescribe a specific method than their use being evident
for determining fair value, through custom or practice, for
for example, through the use of example, an industry practice.
an independent appraisal or
specified ways of using
discounted cash flows.
Management’s Responsibility