On Aug. 28, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” to remove from, modify, and add to existing fair value measurement disclosure requirements. The issuance is part of the FASB’s disclosure framework project, which intends to improve the effectiveness of disclosures by facilitating clear communication of information that is most important to the users of the financial statements.
