Summary of Statement No. 107
Disclosures about Fair Value of Financial Instruments (Issued 12/91)
Summary
This Statement extends existing fair value disclosure practices
for some instruments by requiring all entities to disclose the fair
value of financial instruments, both assets and liabilities
recognized and not recognized in the statement of financial
position, for which it is practicable to estimate fair value. If
estimating fair value is not practicable, this Statement requires
disclosure of descriptive information pertinent to estimating the
value of a financial instrument. Disclosures about fair value are
not required for certain financial instruments listed in paragraph
8.
This Statement is effective for financial statements
issued for fiscal years ending after December 15, 1992, except for
entities with less than $150 million in total assets in the current
statement of financial position. For those entities, the effective
date is for fiscal years ending after December 15, 1995.