Fair Value Accounting Overview Webinar
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Overview
ASC 820 on fair value accounting represents a dramatic shift in historical cost accounting. Learn how to determine what functions drive fair value, and what impairment measurements companies must make regarding tangible assets, goodwill and intangibles. In this webinar, you will get a refresher on fair value, and learn about:
- The accounting rules in Topic 820
- How Topic 805 (Business Combinations) relates to Topic 820
- Implementing goodwill testing in Topic 350 (Intangibles—Goodwill and Other Intangibles)
- Determining tangible asset impairments
- Issues frequently encountered in fair value
- The impact of COVID-19
Objective
To provide accountants, financial analysts and preparers of financial statements with the most current understanding of this complex topic. You will learn the principles put forth by FASB in relation to the concept of fair value, as well as their practical application.
Emphasis
- Introduction to fair value
- Using fair value in financial reporting
- Definition of fair value
- Three valuation approaches: cost, market, income
- Fair value heirarchy
- Practical fair value
- Intangible assets
- Goodwill testing requirements
- Determining the value of a bond
- Tangible asset impairments
- The impact of COVID-19
This course is included in the following passes:
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View PassesPrerequisite
Basic knowledge of financial accounting and reporting
Level of Knowledge
Intermediate
CPE Credits
4
Hours
NASBA Field of Study
Accounting