Non-Profit Organizations (Topic 958) Statement No. 157

As mentioned in prior statement articles, reporting in terms of fair value for statements is a regulation that non-profits must abide by. Statement No. 157 characterizes what fair value is and how it is measured and disclosed in accordance with generally accepted accounting principles (GAAP). Other accounting statements that also require reporting under fair value statutes reference Statement No. 157. They note that this is the most applicable measurement.