The Financial Accounting Standards Board’s Statement of Financial Accounting Standards Topic 820 (formerly FAS 157) is mandatory for financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP) for fiscal years beginning after November 15, 2007. In order to comply with FAS 157, firms are directed to develop procedures for fair value disclosures in their financial statements, and review their existing valuation policies and procedures.
Interactive Data offers informational resources for clients to assist them with their preparations for Topic 820. Information about inputs to our evaluations, and about valuations we receive from third parties, is set forth in our Summary of Inputs by Asset Class. This enhanced transparency provides our clients with information for their determinations under a “bucketed approach” of input levels for securities we evaluate. Interactive Data will provide the Summary of Inputs to clients upon request, and we are also available to answer questions about the information in the Summary.
Interactive Data continues to discuss with clients and independent accounting firms the implications of Topic 820 and track developments such as the FASB Staff Position (FSP) FAS 157-4 (proposed as FAS 157-e). Please note that Interactive Data has submitted several comment letters to the Financial Accounting Standards Board (FASB) regarding recent proposals and changes to Topic 820 which can be viewed through the link in the Topic 820 resources section below. In addition, Interactive Data held two webinar events, the first on April 1, 2009 to discuss its plans and preparations for FSP FAS 157-e., and the second on April 22, 2009 to discuss FSP FAS 157-4. Replays of both webcast events are available below.
Another recent addition to the Topic 820 resources we offer clients includes the addition of our new online portal in 360ViewSM which allows clients to submit requests for Topic 820 evaluation input reports. The new Topic 820 Evaluation Inputs web portal is available on our 360ViewSM service. On June 25, 2009, we offered clients an online training and demonstration of the portal. The replay file is available below.
Topic 820 resources:
To obtain a copy of our Topic 820 Position Paper, please click here.
To request a copy of our Summary of Inputs by Asset Class, or to contact someone for more information about Interactive Data and Topic 820, please click here .
To view Interactive Data’s recent comment letters to FASB, please click on the appropriate link below:
- Comment letter regarding FSP FAS 157-e, dated 30 March 2009
- Comment letters regarding exposure draft of Topic 820, dated 9 October 2009
To view Interactive Data’s recent comment letters to the International Accounting Standards Board (IASB), please click on the appropriate link below:
- Response to IASB for views from interested parties regarding FSP FAS 157-4, dated 20 April 2009
- Comment letter regarding exposure draft of Financial Instruments:Classification and Measurement (ED/2009/7), dated 14 September 2009
- Comment letter regarding exposure draft of Fair Value Measurement (ED/2009/5), dated 18 September 2009
To view Interactive Data’s recent webcast meetings, please click on the appropriate date below:
Interactive Data’s proprietary methodologies produce evaluations that can be considered as part of portfolio valuation processes to meet fair value requirements, address the demands of risk and portfolio management, and comply with regulations and accounting standards.
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