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FASB ASC Topic 820, Fair Value Measurement

Authoritative US GAAP research starting point for the fair value objective, markets, market participants, valuation approaches, input hierarchy, and disclosures.

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Publisher
Financial Accounting Foundation
Standing
Primary authority
Version
Topic 820 as accessed 2026-08-08
Relevant parts
Topic 820; measurement objective, markets, valuation approaches, fair-value hierarchy, and disclosure
Currency
current · checked Aug 8, 2026

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Fair value is a market-participant exit-price measurement at the measurement date under an orderly transaction assumption. The principal market, unit of account supplied by the governing Topic, valuation approach, observable and unobservable inputs, and significant-input hierarchy must remain visible.