Fair Value Accounting Overview Webinar
Overview
Fair value has become the central measurement basis in today’s financial reporting and likely will continue to be the basis for recognition of many accounting transactions in the future. ASC 820 created a dramatic shift in historical cost accounting and set forth a framework for measuring fair value. For this course, you will learn how to determine what functions drive fair value, and what impairment measurements companies must make regarding tangible assets, goodwill and intangibles. In this webinar, you will learn about:
- The accounting rules in Topic 820
- The differences between US GAAP and IFRS 13 regarding FV measurements and disclosures
- Understanding the auditor’s role in auditing FV measurements
- Determining tangible asset impairments
- Issues frequently encountered in fair value
Objective
To provide CPAs and other financial professionals with the most current understanding of this complex topic. You will learn the principles put forth by FASB in relation to the concept of fair value, as well as their practical application.
Emphasis
- Introduction to fair value
- Using fair value in financial reporting
- Liability definition
- Business combinations
- Fair value hierarchy
- NAV practical expedient
- Three valuation approaches: cost, market, income
- Scope of ASC 820
- The five-step framework
- Management process and auditor’s role in FV measurement
- Measuring fair value of intangible assets
- Goodwill testing requirements
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