Fair Value Accounting Overview Self-Study Webinar (5 Hours)

Overview: 

ASC 820 on fair value accounting represents a dramatic shift in historical cost accounting. Learn how to determine what functions drive fair value, and what impairment measurements companies must make regarding tangible assets, goodwill and intangibles. In this self-study webinar, you will get a refresher on fair value, and learn about:

  • The accounting rules in Topic 820
  • How Topic 805 (Business Combinations) relates to Topic 820
  • Implementing goodwill testing in Topic 350 (Intangibles—Goodwill and Other Intangibles)
  • Determining tangible asset impairments
  • Issues frequently ecountered in fair value
  • The impact of COVID-19
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: 
  • Introduction to fair value
  • Using fair value in financial reporting
  • Definition of fair value
  • Three valuation approaches: cost, market, income
  • Fair value heirarchy
  • Practical fair value
  • Intangible assets
  • Goodwill testing requirements
  • Determining the value of a bond
  • Tangible asset impairments
  • The impact of COVID-19

Identify specified terminology relevant to fair value accounting

Recognize arguments both for and against the use of fair value in accounting

Recognize specified topics in which GAAP mandates the use of fair value

Identify the perspective from which fair value is to be assigned

Identify the characteristics of the market in which fair value is presumed to be assigned

Identify the basis on which the fair value standards require that fair value be measured

Recognize the role of the highest and best use concept in fair value accounting

Recognize the acceptable valuation methods/approaches identified in Topic 820

Identify the primary valuation method used to value tangible assets

Identify the unit of accounting for goodwill impairment testing purposes

Recognize the valuation approach that includes the discounted cash flow technique 

Recognize a description of Level 1, Level 2, and Level 3 inputs to fair value accounting

Recognize the valuation input that would, on a relative basis, be most likely to result in litigation

Recognize the valuation input that would be most likely to be used as collateral against a loan

Identify the overall disclosure requirements of Topic 820

Identify the most common instances in which non-financial institution companies must apply fair value measurements

Recognize the frequency in which goodwill not being amortized is currently tested for impairment
 

Bottom
Price: 
$169.00
Prerequisite: 

Basic knowledge of financial accounting and reporting.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Intermediate.

CPE Credit: 
5.00
NASBA Field of Study: 
Accounting