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Current Developments in Fair Value Measurements

OnDemand Webinar (95 minutes)

Gain a better understanding of reporting with fair value measurements.

Fair value measurement in financial reporting is a controversial topic. Investors indicate that they prefer the information that fair value conveys when making an investment decision. Some preparer, particularly certain private companies wonder if fair value is worth the cost and complexity for their needs. Fair value measurement requires certain judgment in which also presents unique challenges to preparers and auditors. This information will provide you detail on the current status of fair value in financial reporting, including the latest with private company alternative accounting and the fair value quality initiative. The topic will also discuss regulators viewpoints on measuring fair value and other audit concerns.

Authors

Mark L. Zyla, CPA/ABV, CFA, ASA, Acuitas Inc

Agenda

History of Fair Value Measurements in Financial Reporting

Common Accounting Standards With Fair Value as the Unit of Measurement

• ASC 820 Fair Value Measurement

• ASC 805 Business Combinations

• ASC 350 Goodwill and Other Intangible Assets

• ASC 360 Property, Plant and Equipment

Private Company Council (PCC)

• Development of PCC

• Is There Big GAAP/Little GAAP?

• Private Company Accounting Alternatives With Fair Value

• Should Private Companies Elect the Alternatives?

Regulators and Fair Value

• Security and Exchange Commission Guidance

• PCAOB Guidance for Auditing Fair Value

• PCAOB Audit Deficiencies Related to Fair Value Measurements

• Issues in Auditing Fair Value

Fair Value Quality Initiative

• History and Development

• Current Status

• Credentials for Valuation Specialists

Future of Fair Value in Financial Reporting