Fair value

From Knowledge base

Definition

Fair Value means the amount that a seller would reasonably expect to receive in a current arm's length transaction between a willing buyer and a willing seller, other than a forced or liquidation sale.[1]

References & Notes

  1. Definitions used in Cost Accounting Standards 2012 Release; [57 FR 14153, Apr. 17, 1992, as amended at 73 FR 23964, May 1, 2008]

Internal Links

CAS 415 - Accounting for the Costs of Deferred Compensation