Fair Value Measurement: Illiquid Assets, Digital Assets & Disclosure Pitfalls Webinar

To provide CPAs and finance professionals with the knowledge needed to apply fair value guidance to illiquid and digital assets, evaluate valuation evidence and prepare clear, supportable financial statement disclosures.

• ASC 820 fair value measurement principles 
• Principal and most advantageous markets 
• Unit of account considerations 
• Valuation approaches and techniques 
• Fair value hierarchy classification 
• Inactive markets and disorderly transactions 
• Valuation of private equity and private credit 
• Fund interests and the NAV practical expedient 
• Contractual sale restrictions under ASU 2022-03 
• Calibration and backtesting 
• Digital asset scoping under ASC 350-60 
• Crypto asset accounting under ASU 2023-08 
• Stablecoins, wrapped tokens and security tokens 
• Custody, control and safeguarding considerations 
• SAB 122 and the rescission of SAB 121 
• Staking and decentralized finance activities 
• ASC 820 and crypto asset disclosures 
• MD&A and critical accounting estimates 
• Valuation controls and audit documentation

Bill Witt is a Director in the Accounting and Transaction Services (A&TS) practice at Highspring, where he specializes in advising clients on complex initial public offering (IPO) transactions, SEC filings, and technical accounting matters. With over 25 years of experience in technical accounting and financial reporting leadership, Bill is a trusted advisor to clients navigating high-stakes financial events.

His technical expertise spans a range of industries including fintech, biotechnology, and SaaS, with a proven track record supporting multiple IPOs and leading engagements involving ASC 606, lease accounting, and other critical accounting standards. Bill has developed and delivered training programs on the IPO process and technical accounting topics, positioning him as both a subject-matter expert and educator.

In addition to IPO readiness, Bill has extensive experience in financial transformation, including the optimization of close processes, the development of robust forecasting models, and the preparation of companies for complex equity and debt transactions. He is skilled in leading cross-functional teams and managing high-complexity projects involving corporate governance, post-merger integration, and strategic financial planning.

Prior to joining Highspring, Bill was a Senior Manager at Ernst & Young LLP, serving clients in both San Jose, California, and Atlanta, Georgia. He is a Certified Public Accountant (CPA) licensed in California, Georgia, and Ohio.

To provide CPAs and finance professionals with the knowledge needed to apply fair value guidance to illiquid and digital assets, evaluate valuation evidence and prepare clear, supportable financial statement disclosures.

DETAILED LEARNING OBJECTIVES

• Define fair value under ASC 820

• Identify Level 1 inputs within the fair value hierarchy

• Recognize indicators of an inactive market

• Identify the inputs commonly used in the income approach

• Explain how contractual sale restrictions affect the fair value measurement of equity securities under ASU 2022-03

• Explain why a private company’s most recent financing round may not represent fair value at a later reporting date

• Identify the characteristics required for crypto assets to fall within the scope of ASC 350-60

• Describe the subsequent measurement of crypto assets under ASU 2023-08

• Explain the effect of SEC Staff Accounting Bulletin No. 122 on the accounting for crypto-asset safeguarding obligations

• Identify the disclosure requirements for significant crypto asset holdings under ASC 350-60

• Determine when net asset value may be used as a practical expedient to estimate the fair value of a fund investment

• Identify the factors used to determine the principal market for a crypto asset

• Describe how an entity should evaluate crypto-asset safeguarding liabilities following the issuance of SAB 122

• ASC 820 fair value measurement principles 
• Principal and most advantageous markets 
• Unit of account considerations 
• Valuation approaches and techniques 
• Fair value hierarchy classification 
• Inactive markets and disorderly transactions 
• Valuation of private equity and private credit 
• Fund interests and the NAV practical expedient 
• Contractual sale restrictions under ASU 2022-03 
• Calibration and backtesting 
• Digital asset scoping under ASC 350-60 
• Crypto asset accounting under ASU 2023-08 
• Stablecoins, wrapped tokens and security tokens 
• Custody, control and safeguarding considerations 
• SAB 122 and the rescission of SAB 121 
• Staking and decentralized finance activities 
• ASC 820 and crypto asset disclosures 
• MD&A and critical accounting estimates 
• Valuation controls and audit documentation

Bill Witt is a Director in the Accounting and Transaction Services (A&TS) practice at Highspring, where he specializes in advising clients on complex initial public offering (IPO) transactions, SEC filings, and technical accounting matters. With over 25 years of experience in technical accounting and financial reporting leadership, Bill is a trusted advisor to clients navigating high-stakes financial events.

His technical expertise spans a range of industries including fintech, biotechnology, and SaaS, with a proven track record supporting multiple IPOs and leading engagements involving ASC 606, lease accounting, and other critical accounting standards. Bill has developed and delivered training programs on the IPO process and technical accounting topics, positioning him as both a subject-matter expert and educator.

In addition to IPO readiness, Bill has extensive experience in financial transformation, including the optimization of close processes, the development of robust forecasting models, and the preparation of companies for complex equity and debt transactions. He is skilled in leading cross-functional teams and managing high-complexity projects involving corporate governance, post-merger integration, and strategic financial planning.

Prior to joining Highspring, Bill was a Senior Manager at Ernst & Young LLP, serving clients in both San Jose, California, and Atlanta, Georgia. He is a Certified Public Accountant (CPA) licensed in California, Georgia, and Ohio.