This excerpt taken from the NICE 6-K filed Sep 12, 2007.
Fair Value Measurements (SFAS 157). SFAS 157 does not require new fair value measurements but rather defines fair value, establishes a framework for measuring fair value and expands disclosure of fair value measurements. SFAS 157 is effective for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. The Company does not expect the adoption of SFAS 157 to have a significant impact on its consolidated financial position, results of operations or liquidity.
In February 2007, the FASB issued Statement of Financial Accounting Standards No. 159,