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Overview
Our publication summarizes the FASB’s final guidance that changes how an investment company in the scope of ASC 946, Financial Services — Investment Companies, measures and reports the fair value of an equity security when a contractual restriction prohibits sale of that security on the measurement date. The guidance is effective for annual reporting periods beginning after 15 December 2027, including interim periods within those annual periods. Early adoption is permitted. Entities will apply the guidance prospectively to all equity securities, including those subject to contractual sale restrictions that exist on the adoption date, with any adoption adjustment recognized in current-period earnings.