Topics covered include: The Framework; The Fair Value Concept; Core Definition of Fair Value; Market Participant; Principal Market vs. Most Advantageous; Transaction Costs; Valuation Approaches and Related Inputs; The Hierarchy; Measuring Certain Items; Fair Value of a Nonfinancial Asset; Disclosures. Upon completing this course; you 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.