Machinery & Equipment Fair Value Reporting

The Financial Accounting Standards Board (FASB) uses Standard 820 to define Fair Value for various GAAP accounting Purposes. Fair Value is defined as “the price that would be received to sell as asset or paid to transfer a liability in an orderly transaction between market participants as the measurement date.” This definition is used in valuing Machinery & Equipment, also known as Plant, Property & Equipment or Fixed Assets for Fair Value Measurements in ASC 805 and ASC 360.