Download or read book Complex Fair Value Measurements and Material Weaknesses written by Nathan H. Cannon and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. and international regulators and standard setters have criticized companies and audit firms for failing to establish and audit internal controls for complex fair value measurements (FVMs). In this study, we examine the association between FVMs and the likelihood of reporting a material control weakness, as well as settings in which this association may be reduced. We find that companies with FVM portfolios concentrated in Level 2 and Level 3 FVMs are more likely to report material weaknesses, confirming regulators' concerns that the FVMs are associated with lower financial reporting quality. However, we do not find this association for large companies, clients of audit firm industry experts, or clients of audit firms with FVM-specific expertise. These results suggest that despite the inherent complexity of Level 2 and Level 3 FVMs, company- and auditor-specific characteristics can impact companies' abilities to create an effective internal control structure around some FVMs.

Download or read book Fair Value Measurement written by Mark L. Zyla and published by John Wiley & Sons. This book was released on 2012-10-23 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: FAIR VALUE MEASUREMENT Practical Guidance and Implementation "Writing Fair Value Measurement was a monumental task fraught with controversy not only in the U.S., but also abroad. Having coauthored a book with Mark as well as written one myself, I was even more impressed that Mark was able to navigate these fair value minefields and produce a work that will be a tremendous help to accountants and non-accountants alike. If you are looking for a 'one-stop' book on fair value measurement, this is it!" Neil J. Beaton, CPA/ABV, CFA, ASA, Managing Director, Valuation Services, Alvarez & Marsal "In recent years, the FASB and the IASB have added many requirements for various assets and liabilities to be measured at fair value. In this book, Zyla clearly describes how to implement fair value measurement and how investors and creditors should interpret it. The crisp writing and illuminating analysis will help readers to grasp the essence of fair value accounting and to apply it wisely." J. Edward Ketz, Associate Professor of Accounting, Pennsylvania State University "The focus of the book is on fair value measurement based on level 3 inputs. This is a critical area of valuations for financial reporting due to a false comfort given by routine application of evaluating models and assumptions without real possibilities of calibration. Mark Zyla offers an extraordinary help in understanding the reliability of the inputs and the outputs of the different methodologies and the inherent biases in each of them. The book is a precious support for better valuation both in U.S. GAAP and in IFRS fair value reporting." Mauro Bini, Full Professor of Corporate Finance, Bocconi University; Chairman, Management Board OIV (Organismo Italiano di Valutazione) Essential guidance on the fair value measurement process Now in a second edition, Fair Value Measurement: Practical Guidance and Implementation helps you succeed in understanding the fair value accounting rules that entities must follow. The result is a resource that you can rely on to understand the importance of valuation and the concepts that define it. In basic, nontechnical language, author Mark Zyla presents practical direction for best practices of financial valuation as well as for understanding the many FASB pronouncements involving fair value. An essential guide for auditors and valuation specialists, Fair Value Measurement: Practical Guidance and Implementation, Second Edition brings you up to speed on what fair value really means.

Download or read book Fair Value Measurements written by Mark L. Zyla and published by John Wiley & Sons. This book was released on 2009-12-04 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: A hands-on volume for financial executives with guidance on the fair value measurement process In today's dynamic and volatile markets, whether buying or selling, what corporate officers need to know is the worth of an asset today, a task that for many has become complex and at times confusing. Fair Value Measurements: Practical Guidance and Implementation demystifies this topic, offering you a nuts-and-bolts guide of the most recent developments in preparing financial statements using fair value measurements. This straightforward book covers the best practices on measuring fair value in a business combination and how to subsequently test the value of these assets for impairment. Filters complicated insider concepts into easy-to-understand information on the valuation specialist's function Discusses the many new FASB pronouncements involving fair value Instantly familiarizes you on the ins and outs of fair value financial disclosure Well-written, conversational in tone, and filled with valuable insights, Fair Value Measurements: Practical Guidance and Implementation lifts the veil of confusion from the substantial and growing requirements for fair value disclosures.

Download or read book Valuation for Financial Reporting written by Michael J. Mard and published by John Wiley & Sons. This book was released on 2010-11-02 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now in a third edition, Valuation for Financial Reporting provides practical implementation guidance for practitioners, auditors, and their clients in the private and public sectors. This one-stop resource clearly explains SFAS 141R, Business Combinations; SFAS 160, Noncontrolling Interests in Consolidated Financial Statements; and SFAS 157, Fair Value Measurements. The new edition furthers the elements of fair value in financial reporting in accordance with recent standards, providing primary emphasis on fair value measurements and reporting, and the valuation and impairment analysis of intangible assets and goodwill. Written by leading experts in the valuation field, the Third Edition features: Invaluable tools including flowcharts for SFAS 157 and SFAS 141R, a checklist for implementing the fair value measurement standard, and a preparer’s worksheet Discussion of the valuation aspects of the new financial reporting requirements, including how to identify and measure contingent considerations Interpretations of the accounting requirements with application of the requirements to specific facts and circumstances Specific guidance for determining fair value in a business combination Guidance for determining fair value measurement, including fair value definition, transaction costs, transportation costs, market participants, and highest and best use Now featuring an accompanying Website, Valuation for Financial Reporting, Third Edition is practical and easy to follow, with detailed examples of an impairment analysis as well as a business combination in which tangible and intangible assets are identified and valued. It is the authoritative reference every valuation professional must have.

Download or read book The Use of Fair Value Measurements in Accounting written by Frank J. Beil and published by . This book was released on 2014-07-15 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial statement users are increasingly demanding that the balance sheet accounts that display a company’s financial position be communicated to investors and creditors at their fair value as of the financial reporting date. The accounting standard setter’s response has been to provide fair value frameworks for measuring and reporting asset and liability values on financial statements. These valuation frameworks apply to all accounts on the financial statements that are required to be measured at fair value. The application of these frameworks to accounting measurements can be both complicated and complex. This book will equip managers, finance professionals, and accountants with the tools and techniques necessary to understand and interpret fair value measurements used in financial statements. In addition, this book will provide companies with a blueprint on how to apply accounting guidance to balance sheet and income statement accounts that are required to be valued at fair value as of the reporting date. Through the use of examples and illustrations that interpret complex accounting guidance this book will illuminate the accounting and valuation issues involved with fair value accounting.

Download or read book Valuation for Financial Reporting written by Michael J. Mard and published by John Wiley & Sons. This book was released on 2007-10-19 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential procedures for the measurement and reporting of fair value in Financial statements Trusted specialists Michael Mard, James Hitchner, and Steven Hyden present reliable and thorough guidelines, case studies, implementation aids, and sample reports for managers, auditors, and valuators who must comply with the Financial Accounting Standards Board Statement of Financial Accounting Standards Nos. 141, Business Combinations; 142, Goodwill and Other Intangible Assets; 144, Accounting for the Impairment or Disposal of Long-Lived Assets; and the new 157, Fair Value Measurements. This important guide: * Explains the new valuation aspects now required by SFAS No. 157 * Presents the new definition of fair value and certain empirical research * Distinguishes fair value from fair market value * Provides a case study that measures the fair values of intangible assets and goodwill under SFAS Nos. 141 and 157 * Includes a detailed case study that tests the impairment of goodwill and long-lived assets and measures the financial impact of such impairment under SFAS Nos. 142 and 144 * Cross-references and reconciles the valuation industry's reporting standards among all of the valuation organizations * Includes two sample valuation reports, one of which is a new USPAP- compliant PowerPoint? presentation format * Includes implementation aids for controlling the gathering of data necessary for analyses and for guiding the valuation work program

Download or read book The Professional s Guide to Fair Value written by James P. Catty and published by John Wiley & Sons. This book was released on 2012-02-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: An all-encompassing guide to the elements and basics of fair value With the important role fair value is playing in the creation of a converged set of global accounting standards, demand for products in this category is growing spectacularly. The elements and basics of fair value are covered, including risk, dealing with the SEC, and details on legal responsibility. In addition, sample financial statements are included, along with tables, recommended applicable techniques, and management checklists for those who are responsible for preparing and approving of financial statements. Written by the Chairman and co-CEO of the International Association of Consultants, Valuators and Analysts (IACVA) Includes sample financial statements of both U.S. and foreign companies Appropriate for anyone involved professionally with finance—managers, accountants, investors, bankers, instructors, and students—The Professional's Guide to Fair Value is a reliable reference on the ins and outs of fair value financial disclosure.

Download or read book Fair Value Measurement written by Zachary Huxley and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Calculating the fair market value of a good at a given date can be a highly complex process. It therefore often requires the involvement of valuation specialists, who act as consultants in various contexts (e.g., pre- or post-acquisition due diligence, auditing, and tax planning). Demand for the services of these specialists – who are typically professional accountants employed by accounting firms – has been growing over the past decade. Yet their understanding of what fair value is, their emotionally laden decision-making heuristics when faced with uncertainty and doubt, and the way they resolve dilemmas (when different valuation methods lead to irreconcilable values, for instance) have received surprisingly little scholarly attention, with the exception of the emerging literature on expert valuators in non-accounting contexts such as art or real estate. The focus of my thesis is the work of the professional accountants who specialize in valuing intangibles, such as private equity investments, lost damages in commercial disputes and goodwill. These valuations are required in a variety of contexts, the most common of which are mergers and acquisitions, tax reorganizations, litigation and financial reporting. I investigate three specific issues related to this topic from a sociological perspective. The first chapter is based on interviews with valuation specialists as well as their professional association's public and private discourses. It suggests that fair value measurements are fragile and require significant emotional involvement for valuation specialists to consider them to be reliable and justifiable to others. The second chapter builds on these same interviews, but focuses on the concept of fair value over its application. It reveals that practitioners understand the concept of fair value pragmatically, in that fair value measurements are deemed to be expedient, plural, and highly instrumental. As a result, practitioners focus mainly on the usefulness of their measures, which has significant implications, particularly in the context of financial reporting. Finally, the third chapter investigates the new forms of professional misconduct made possible by the financialization of accounting in general and by the lack of rules that govern the quality of fair value measurement more specifically. It proposes an original theoretical framework for analyzing how the profession responds to these new forms of misconduct, followed by a case study based on particularly hard to access (but information-rich) data on how the profession tries to respond to the new forms of misconduct that destabilize it.

Download or read book Valuation for Financial Reporting written by Mark Edwards and published by Wiley. This book was released on 2025-12-23 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Practical guidance toward FASB ASC compliance, with expert interpretation and helpful tools Valuation for Financial Reporting provides clear guidance toward transactions and fair value, in full alignment with the latest Financial Accounting Standards Board Accounting Standards Codification. Written by recognized valuation authorities, this useful guide provides preparers, auditors, and investors with detailed coverage of the latest accounting requirements, complete with interpretations and application advice. This updated fourth edition includes new information on fair value elements for early stage entities and financial instruments, and the companion website provides worksheets, flowcharts, checklists, and valuation models that help ease implementation. Readers will find complete information, clear explanation, and easy navigation, making this book suitable for both quick reference and deep study. Valuation practitioners need to understand and interpret accounting requirements on valuation for financial reporting for business combinations, early stage entities, and financial instruments, and apply these requirements according to specific facts and circumstances. Valuation for Financial Reporting presents complete guidance toward FASB ASC application, with clear interpretations and expert insight. Review different methodologies for identifying and valuing intangible assets Examine the valuation aspects of new financial reporting requirements Learn which requirements apply to specific situations Find direct interpretations of FASB ASC, including 805, 820, 825, and 350 FASB standards are always evolving, and practitioners must stay up to date. Clear explanations and logical organization make this guide a convenient desk reference, and the tools provided help streamline the often complex valuation process. When used alongside the robust companion website, Valuation for Financial Reporting is a one-stop resource for compliance with the latest valuation standards.

Download or read book Standards of Value written by Jay E. Fishman and published by John Wiley & Sons. This book was released on 2007-02-09 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: A must-read for appraisers, accountants, judges, attorneys, and appraisal users, this insightful book addresses standards of value as applied in four distinct contexts: estate and gift taxation; shareholder dissent and oppression; divorce; and financial reporting. Here, practitioners will discover some of the intricacies of performing services in these venues, and appraisers will find this book helpful in understanding why the practitioners are asking such questions.

Download or read book Fair Value Measurement Basis for conclusions written by International Accounting Standards Board and published by . This book was released on 2009 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fair Value of Liabilities written by Bernard Pump and published by Wiley. This book was released on 2016-08-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential guide to valuing liabilities under the current fair value accounting standards The valuation rules and techniques under current accounting guidance are very complex and not well understood by most practitioners. Fair Value of Liabilities is a timely guide to valuing liabilities under the current fair value accounting standards. This practical and reliable resource fills a void that currently exists between the academic literature on the valuation of debt and liabilities and the current accounting rules for the fair value of liabilities, including fair value measurement, methodologies, debt, contingent liabilities, disclosures. Fills the vacuum of guidance on fair value of liabilities under the current standards and guidance of FASB and AICPA Bridges the gap that exists between the academic literature on the valuation of debt and liabilities and current accounting rules for the fair value of liabilities Designed for accounting practitioners in public and private practice, auditors, valuation professionals, lawyers and law firms that work with financial statements, analysts and the investing public, and business schools New accounting rules have been promulgated recently and those rules have evolved quickly over the past several years. Fair Value of Liabilities demystifies a complex area in need of clarification.

Download or read book Valuation for Financial Reporting written by Michael J. Mard and published by . This book was released on 2007 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuation for Financial Reporting: Intangible Assets, Goodwill, and Impairment Analysis, SFAS 141 and 142, Second Edition educates valuation practitioners, auditors, and their clients on the new purchase accounting rules and practices, including financial statement disclosure.

Download or read book Wiley Practitioner s Guide to GAAS 2012 written by Steven M. Bragg and published by John Wiley & Sons. This book was released on 2011-10-19 with total page 1010 pages. Available in PDF, EPUB and Kindle. Book excerpt: The clearest, easiest-to-use guide to understanding GAAS 2012 on the market—fully updated This latest resource to understanding GAAS addresses the toughest part of the job—identifying, interpreting, and applying the many audit, attest, review, and compilation standards relevant to a particular engagement. The only GAAS reference organized according to practitioners' actual use of the Statements on Auditing Standards (SASs), inside you'll find examples and illustrations for testing internal controls, techniques for remaining compliant with each standard, and explanations of the reasons for each pronouncement. A brief identification of each SAS, SSAE, and SSARS, with its effective date and tips on when to apply it A convenient and comprehensive glossary of official definitions, which are usually scattered throughout a standard Behind-the-scenes explanations of the reasons for each pronouncement and brief explanations of the basic ideas of the section Concise listing and descriptions of each standard's specific mandate Easy-to-read capsule summary of interpretations, plus selected AICPA practice alerts and advisories Helpful techniques for remaining compliant with each standard Examples and illustrations for testing internal controls Wiley Practitioner's Guide to GAAS 2012 presents each statement individually, explaining how the standards are related and offering guidance on the entire engagement process in the form of practice notes, checklists, questionnaires, and real-world examples that illustrate how the fundamental requirements of each section are applied.

Download or read book Executive s Guide to Fair Value written by Alfred M. King and published by John Wiley & Sons. This book was released on 2008-04-11 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Executive's Guide to Fair Value: Profiting from the New Valuation Rules "The advent of fair value reporting is not your Momma's (or your Papa's) kind of accounting. If you're a financial professional above the age of twenty-five who is working in industry, read this book. From choosing a fair value specialist to the perils of 'made as instructed' valuations to purchase price allocations to impairment testing to that SEC tripwire, customer relationships, fair value expert Al King gets it right. And he does so with neither jargon nor literary anesthesia. As a former CFO myself, all I can say is WOW!" -Warren D. Miller, CFA, ASA, CMA, CPA, Cofounder, Beckmill Research A hands-on guide for financial executives needing to understand the appraisal process Executive's Guide to Fair Value: Profiting from the New Valuation Rules brings senior level executives up to speed on what fair value really means. This new book addresses a full range of issues facing auditors and executives, including litigation and the "true" determination of value, estimating the value of working capital, and how to estimate the value and life of intangible assets. Complete with advice on the latest FASB rules and regulations, Executive's Guide to Fair Value: Profiting from the New Valuation Rules provides the most up-to-date and reliable information on: The latest fair value rules and how they impact both preparers and users of financial statements The role and responsibility of the appraisal specialist, including best practice tips for choosing and evaluating an appraiser Testing customer relationships for impairment A thorough knowledge of what fair value accounting is and how it can impact your corporation and its profitability Practical applications, including incentive compensation and equity-based compensation In basic, nontechnical language, Executive's Guide to Fair Value: Profiting from the New Valuation Rules will help all financial executives and auditors succeed in understanding the new fair value accounting rules that corporations must now follow. The result is a resource that professionals can rely on to understand the importance of valuation and the concepts that define it.

Download or read book The Vest Pocket CPA written by Joel G. Siegel and published by John Wiley & Sons. This book was released on 2011-01-31 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: The newly updated fast-reference problem solver The Vest Pocket CPA-the convenient, comprehensive reference professionals have relied on for nearly fifteen years-is now updated in a new Fourth Edition to give today's busy executives and accountants the helpful information they need in a quick-reference format. Whether in public practice or private industry, professionals will always have this reliable reference tool at their fingertips because it easily goes anywhere-to a client's office, on a business trip, or to an important lunch meeting. Fully revised, the Fourth Edition: * Includes complete coverage of the New Risk Assessment Auditing Standards and Standards of the PCAOB * Covers new pronouncements on important accounting principles including fair value measurement, financial assets, accounting changes, exchanges of nonmonetary assets, and compilation and review services * Adds new chapters on professional ethics and quality controls for CPA firms * Packed with practical techniques and rules of thumb for analyzing, evaluating, and solving day-to-day accounting issues, The Vest Pocket CPA, Fourth Edition helps you quickly pinpoint what to look for, what to watch out for, what to do, and how to do it. In an easy-to-use Q & A format, it covers such useful topics as financial measures, ratios, and procedures and includes checklists, samples, and worked-out solutions to a variety of accounting problems. The Vest Pocket CPA, Fourth Edition is a powerful companion for the complex, ever-changing world of accounting.

Download or read book Wiley Practitioner s Guide to GAAS 2013 written by Joanne M. Flood and published by John Wiley & Sons. This book was released on 2012-12-05 with total page 1224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The clearest, easiest-to-use guide to understanding GAAS 2013 on the market—fully updated This latest resource to understanding GAAS addresses the toughest part of the job—identifying, interpreting, and applying the many audit, attest, review, and compilation standards relevant to a particular engagement. The only GAAS reference organized according to practitioners' actual use of the Statements on Auditing Standards (SASs), inside you'll find examples and illustrations for testing internal controls, techniques for remaining compliant with each standard, and explanations of the reasons for each pronounceument. A brief identification of each SAS, SSAE, and SSARS, with its effective date and tips on when to apply it A convenient and comprehensive glossary of official definitions, which are usually scattered throughout a standard Behind-the-scenes explanations of the reasons for each pronouncement and brief explanations of the basic ideas of the section Concise listing and descriptions of each standard's specific mandate Easy-to-read capsule summary of interpretations, plus selected AICPA practice alerts and advisories Helpful techniques for remaining compliant with each standard Examples and illustrations for testing internal controls Wiley Practitioner's Guide to GAAS 2013 presents each statement individually, explaining how the standards are related and offering guidance on the entire engagement process in the form of practice notes, checklists, questionnaires, and real-world examples that illustrate how the fundamental requirements of each section are applied.