Fair Value Accounting & Reporting Self-Study Webinar (10 Hours)

Overview: 

ASC 820 defines fair value, provides a framework for measuring fair value, and requires extensive disclosures about fair value measurements. This program will supply you with:

  • A high-level overview of the fundamentals of fair value measurement
  • Guidance on how the valuation process is used in financial statement preparation
  • An understanding of expanded disclosure requirements for recurring and nonrecurring items

 

Objective: 

To provide accountants, financial analysts and preparers of financial statements 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: 
  • Why is Fair Value So Important?
  • Fair Value Valuation Techniques
  • Scope
  • Fair Value Hierarchy
  • Five Step Framework
    - Determine:
      - Unique attributes
      - Valuation premise
      - Best market
      - Appropriate valuation
        techniques
      - Fair value
  • Fair Value Option Per ASC 825
  • Topic ASC 820 Disclosures
  • Management & Auditor's Role in Fair Value Measurement
  • Significant Differences from IFRS 13
  • Best Practices for Measuring Fair Value of Intangible Assets
  • Authoratative Standards Requiring Financial Assets & Liabilities to Be Measured:
    - Business combinations
    - Goodwill impairment testing
    - Nonmonetary exchanges

• Recognize the impact of FV measurements on a reporting entity’s results

• Recognize the reasoning of both FV opponents and proponents

• Identify the potential for fraud in the context of FV measurements

• Identify the relevance of key terms used in the definition of FV in Topic 820

• Identify the basis for the determination of FV of nonfinancial assets

• Recognize the characteristics of the 3 levels of inputs used in FV measurements

• Identify the accounting treatment of equity securities subject to contractual sale restrictions in the context of the FV measurement

• Identify the treatment of transaction cost under Topic 820

• Recognize the disclosure requirements when FV is based upon the NAV practical expedient

• Identify acceptable valuation techniques used in FV measurement

• Recognize the characteristics of the valuation techniques used in FV measurement

• Recognize the common uses of the valuation techniques used in FV measurement

• Recognize the objectives of the disclosure requirements of Topic 820

• Identify the transactions requiring the use of a FV measurement in GAAP

• Identify transactions falling outside the scope of Topic 820

• Recognize the steps in the FV conceptual framework

• Identify the restrictions surrounding the selection of an appropriate valuation technique

• Recognize the objectives of the FV option addressed in Topic 825

• Identify the transactions for which the FV option is available

• Identify the accounting treatment of interest income and expense associated with items for which the FV option has been elected

• Recognize the objectives of the disclosure requirements of Topic 825

Bottom
Price: 
$299.00
Prerequisite: 

Basic knowledge of financial accounting and reporting.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Intermediate.

CPE Credit: 
10.00
NASBA Field of Study: 
Accounting