GASB Finalizes Fair Value Measurement Guidance for State and Local Governments
The Governmental Accounting Standards Board has released finalized guidance on accounting and financial reporting issues related to fair value measurements, primarily applying to investments made by state and local governments.
GASB Statement No. 72, Fair Value Measurement and Application, defines fair value and describes how fair value should be measured, what assets and liabilities should be measured at fair value, and what information about fair value should be disclosed in the notes to the financial statements.
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Tech Going Big In IG Bond Markets
So far this year, issuance from tech firms has been setting a range of new records in the corporate debt arena. According to data provider Dealogic, tech sector debt issuance has reached a new high of USD26.3bn in 2015, marking a more than two-fold increase from the USD10.6bn in issuance recorded by the same stage in 2014. Within this rally, debt capital market (dcm) investors are displaying a hunger for paper being sold by more sizable and well-rated firms. As a result, the average deal size of tech bonds worldwide has reached its highest level yet, at USD2.2bn per deal. Read the full story.
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