Concepts of Probability in Disclosure, Recognition and Measurement

• In Event: Innovative and Emerging Issues 2

Abstract

This paper examines the various concepts of probability as they relate to U.S. GAAP requirements for disclosure, recognition and measurement. The major divisions and distinctions are taken from a keyword search of the FASB’s Accounting Standards Codification. The intended contributions of this study include the development of a more unified approach to fair value measurement techniques.

Authors

• Harry Howe, SUNY, Geneseo

• Xiaoying (Angie) Zhao, SUNY, Geneseo

• Allison ("Allie") Reisch, SUNY, Geneseo