Fair Value Accounting: An Overview

Course Information

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Title:	Fair Value Accounting: An Overview
Category:	Accounting and Auditing
Field of Study:	Accounting
Course Code:	M199
CPE Credits:	5.0
Price:	43.95

Description

Description:

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 ASC 820 Fair Value Measurements and Disclosures (formerly known as SFAS 157), the concept of “fair value” had never been formally defined in U.S. accounting literature. Since its issuance in September 2006, ASC 820 has become one the most controversial accounting standards ever released.

This course provides a conceptual review of fair value accounting, as outlined in ASC 820 and other U.S. accounting standards. This course will also provide an overview of the authoritative guidance for auditing fair value measurements and disclosures, SAS No. 101.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Technical Details: Accounting is a technical field of study.

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Objectives

Objectives:

Define ‘fair value’ and explain the fair value framework & hierarchy included in ASC 820Fair Value Measurements and Disclosures.
Identify the roles that management and the auditor have in the fair value measurement process.

Recognize the key aspects of the fair value option.
Recognize the limitations of fair value accounting.

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers: CPA