Fair Value for Accountants

KPMG Executive Education

KPMG Executive Education

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About the course

Fair value is in the spotlight, and fair value accounting has never been more important. But despite such attention by standard setters and regulators, estimating fair value of an asset or liability can still be extremely complex and uncertain. This one-day seminar provides accounting and reporting professionals with an in-depth understanding of the requirements of ASC Topic 820, the FASB standard for fair value measurement. Through class exercises and illustrative examples, participants will study the fundamental principles of fair value, the key assumptions and methodologies used to estimate fair value, and typical practice issues highlighted by regulators. Participants will come away better able to effectively apply fair value principles in their accounting and reporting activities.

Course Leaders

GAAP Dynamics, a training firm that provides tailored and engaging learning solutions to companies and accounting firms worldwide. Their passion for making accounting understandable and their extensive industry knowledge combine to create a uniquely effective learning experience. They make accounting fun!

Agenda

Although the course is updated throughout the year as developments occur, topics are expected to include:

Introduction to fair value measurement

  • Scope of ASC Topic 820
  • Areas in US GAAP where fair value measurement is utilized
  • Recent emphasis on fair value measurements, views on fair value measurement as basis for accounting
  • Definition of fair value under ASC Topic 820

Typical valuation methodologies

  • Market, income and costs approaches
  • Common valuation methods used for different types of assets/liabilities

Fair value of financial assets

  • Fair value for equity securities, debt securities, derivative financial instruments, other alternative investments
  • Various issues, including blockage discounts, restricted securities, bid-ask spread, transaction costs, consideration of credit risk/liquidity risk and other factors, etc.

Using NAV as a practical expedient to fair value

  • Fair value for alternative investments
  • FV vs. NAV, qualifying for practical expedient, practice issues

Fair value of nonfinancial assets

  • Highest and best use of a nonfinancial asset, valuation approaches, key assumptions used to determine fair value, etc.

Fair value of liabilities

  • Valuation approaches to determine fair value of liabilities, consideration of non-performance risk, recognizing changes in fair value due to credit risk for liabilities

Financial statement presentation

  • Measuring fair value on a "net basis" of assets/liabilities
  • Fair value hierarchy
  • Other disclosure requirements
  • Example financial statement disclosures

Videos and materials

Fair Value for Accountants at KPMG Executive Education

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

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