In the context of Christian Brothers Automotive's consolidated financial statements, what accounting standards are followed when management makes estimates and assumptions?

Level 3 - Unobservable inputs in which there is little or no market data and which the Company makes its own assumptions about how market participants would price the assets and liabilities.

The Company's fair value of financial instruments disclosure is based upon information available to management as of each period-end. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

The carrying amount of cash and cash equivalents, restricted cash, receivables, accounts payable and accrued expenses reported on the consolidated balance sheets approximate fair va

Source: Item 23 — RECEIPTS (FDD pages 76–372)