Dale Clayton

Publication Date


Document Type


First Advisor

Norton, Curtis L.

Degree Name

B.A. (Bachelor of Arts)

Legacy Department

Department of Accountancy


The FASB passed Accounting Standard 107 requiring all companies to disclose the fair value of their financial instruments . Implementation of this standard is easy for most companies but financial institutions have a wide variety of financial instruments that must be disclosed at fair value . Determining the fair value of these instruments presents some problems for financial institutions because many of them are not readily marketable therefore, they have no quoted market prices . The purpose for this paper is to address the methods of determining fair value as set forth by the FASB and to evaluate the reliability and usefulness of the required disclosure. The footnotes disclosed by many financial institutions have been examined to determine the methods used to calculate fair value. After examining the available information I have determined that the information provided by the disclosure of fair values is both reliable and useful.


73 pages




Northern Illinois University

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