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ASC 820 the Basics of Fair Value Accounting

  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

Do you feel that fair value is everywhere in the world of accounting?

All right, that may be a bit of an exaggeration, but it is one of the most widespread accounting concepts as there are many items throughout U.S. GAAP and IFRS that are required to be measured at fair value, in accordance with ASC 820.

Entities now need to apply fair value accounting under ASC 820 across a variety of transitions. From financial instruments to leases, business combination accounting and impairment measurement, GAAP either requires or allows the use of fair value measures in an ever-increasing number of circumstances. Now is the time for you to get up-to-speed on the basics of the fair value approach. In this online CPE course, we will review when fair value accounting is required and when an entity can select to use it. Then we will review the basics of the ASC 820 model, including the concept of “exit price,” the various approaches which an entity may follow when using a fair value approach and the different levels of inputs which an entity may consider when determining fair value. Lastly, the online CPE course will provide examples on when and how to apply this complex accounting guidance.

This online CPE webinar will also discuss about the amendments to ASC 820 that are the result of the work by the FASB and the IASB to develop common requirements for measuring fair value and for disclosing information about fair value measurements in accordance with U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRSs).

The amendments explain how to measure fair value. They do not require additional fair value measurements and are not intended to establish valuation standards or affect valuation practices outside of financial reporting.

This online CPE course will explain the change the wording used to describe the requirements in U.S. GAAP for measuring fair value and for disclosing information about fair value measurements.

Major topics covered in this online CPE webinar:

  • Valuation techniques.
  • The 3 levels of inputs.
  • Valuation concepts.
  • Allowable exceptions.
  • Asset markets.
  • Presentation requirements.
  • Disclosure requirements.
  • The commonalities of ASC 820 and IFRS 13.

To help you master fair value measurement accounting, this CPE webinar will serve as a resource guide, bringing together a compilation of fair value measurement accounting issues, references, and useful content on the topic.

Learning Objectives

  • To recall when entities can elect and are required to use the fair value option
  • To discuss the ASC 820 guidance on accounting and reporting for business.
  • To identify how to determine the fair value of assets and liabilities under the ASC 820 fair value approach
  • To identify appropriate inputs to use when determining the fair value of an asset or liability
  • To determine the difference between “best use” and other markets.
  • To describe transfers between Levels of inputs

Recommended For

  • This online CPE webinar is recommended for CPAs, CMAs, CIAs and Other Accounting and Auditing Practitioners at all levels desiring to understand the FASB’s fair value guidance

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Business Owner
  • CEO
  • Certified Management Accountant
  • Certified Payroll Manager
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Directors of Finance
  • Senior Accountant
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 PL Credit for Chartered Financial Analyst (CFA)
  • 2 CPE Credit for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Certified Management Accountants (CMA)
  • 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)

Presenter

About Presenter

Michel Morley

Founder Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

3.6

10 Ratings

Excellent

2

Very Good

4

Average

3

Poor

1

Terrible

0

DR

Daniel Regan, CPA (US)

Dec 21st, 2021

the instructor was knowledgeable, but the content seemed very unstructured and was hard to follow. lots of theory, but few examples.

ASC 820 accounting CPE course

$20

2 Credits

Subject Area

Accounting

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