Fair Value Measurements (Sixth Edition)

Authored by James F. Green, CPA
About this Course
This course introduces you to the framework set out in generally accepted accounting principles (GAAP) for measuring an item at its fair value. That framework is set out in FASB Accounting Standards Codification® Topic 820, Fair Value Measurements. The fair value measurement framework sets out the concept of fair value, discusses valuation approaches (and related inputs) on which fair value measurement may be based, and prioritizes inputs (and, by that, measurements) into a hierarchy based on their relative strength. Like GAAP, this course distinguishes between valuation and measurement. Valuation—the act of making judgments about the value of an item—is an activity broader than financial reporting. Measurement—the act of assigning a single value to an item for financial reporting purposes—involves valuation but ultimately requires the selection of a single amount to be recognized. Upon completion of this course, the user should be able to: Identify the objectives of GAAP’s fair value measurement framework; Explain the concept of fair value and cite associated definitions; List major categories of valuation approaches and related inputs; Explain the hierarchy of inputs to fair value measurements; Identify the basic disclosures required by ASC 820.
$ 24.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting
Level
Overview
CPE Credits
2.0
Prerequisites
Basic Knowledge of Accounting
Last Updated
04/08/2016
CCHL_FairValueMeas6thEd