Fair Value Accounting: an OverviewCode: 16-FAIR

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Course Details


97 pages

 

Objective: To discuss a variety of new developments related to accounting and financial reporting.
 

Numerous FASB Standards have been issued requiring certain items to be measured and reported at “fair value” on the Balance Sheet. Prior to the release of SFAS 157 Fair Value Measurements, the concept of “fair value” had never been formally defined in U.S. accounting literature. Since its issuance in September 2006, SFAS 157 has become one the most controversial accounting standards ever released.

 

This course provides a conceptual review of fair value accounting, as outlined in SFAS 157 and other U.S. accounting standards. This review includes discussions on the ongoing controversy surrounding its impact on the global economy, as well as the current FASB & IASB proposals that will potentially require fair value accounting for all financial instruments. Finally, this course will provide an overview of the authoritative guidance for auditing fair value measurements and disclosures, SAS No. 101.

 

 
Learning Objectives:

  • Define ‘fair value’ and explain the fair value framework & hierarchy included in SFAS 157 Fair Value Measurements.
  • Explain the roles that management and the auditor have in the fair value measurement process.
  • Describe the key aspects of the fair value option.
  • Describe the limitations of fair value accounting in the context of the current economic crisis.
Presentation Method:  QAS Self-Study

 

Category:  Accounting

CPE credit:  6 Hours

Program Level:  Update

Prerequisites:  None

Advance Preparation:  None

Exam expiration date:  Participants must submit exams for grading within one year from the date of purchase

For more information regarding refunds, complaints, or cancellation policies, please contact our offices at 817-477-0222.

American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.   Complaints regarding registered sponsors may be addressed to:  National Registry of CPE Sponsors, 150 Fourth Ave. North, Nashville, TN 37219-2417.  Web site:  www.nasba.org

NASBA Sponsor number 108096

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Fair Value Accounting: an Overview-14A
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Fair Value Accounting: an Overview-14A
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04/28/2015
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J.H. IA
12/26/2014
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Fair Value Accounting: an Overview-14A
Y.M. FL
12/17/2014
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Fair Value Accounting: an Overview-14A
N.U. Singapore
11/18/2014
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