Fair Value Accounting: Tools and Concepts FLEXCAST

Overview

As the business world increasingly gravitates towards fair value measurements in financial reporting, understanding and applying these concepts has become crucial. This course is tailored to demystify the complexities of ASC 820 Fair Value Measurement and ASC 825-10 Financial Instrument-Fair Value Option. It provides a detailed exploration of the fair value framework, offering practical guidance on applying fair value measurements and identifying common valuation techniques. Through this course, you will gain the ability to recognize situations where fair value is essential, understand the prioritization of inputs in the fair value hierarchy, and meet the expanded disclosure requirements. The course is enriched with excerpts and references from ASC 820 and ASC 825-10, along with relevant examples, making it a practical tool for professionals in tax, accounting, and finance. By the end of this course, you will be equipped with the knowledge and skills to proficiently handle fair value measurements in your professional practice.

Highlights

Background of ASC 820. Fundamentals of fair value. Assessment of the unit of account. Identification of markets for basis of valuation. Application of valuation techniques. Fair value measurements and inactive markets. General rules of financial assets and liabilities. Presentation and disclosure.

Prerequisites

None.

Designed For

CPAs.

Objectives

Recognize the concepts of using present values that help determine fair value. Identify the appropriate circumstances for using fair values in financial reporting. Recognize common valuation techniques used in determining the fair value of different assets and liabilities. Recognize how the fair value hierarchy prioritizes the inputs used to measure fair value. Identify the expanded disclosure requirements for fair value measurements.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.