Atnaujinkite slapukų nuostatas

El. knyga: Fair Value Measurement, Third Edition - Practical Guidance and Implementation: Practical Guidance and Implementation 3rd Edition [Wiley Online]

  • Formatas: 512 pages
  • Serija: Wiley Corporate F&A
  • Išleidimo metai: 10-Feb-2020
  • Leidėjas: John Wiley & Sons Inc
  • ISBN-10: 1119448727
  • ISBN-13: 9781119448723
Kitos knygos pagal šią temą:
  • Wiley Online
  • Kaina: 100,44 €*
  • * this price gives unlimited concurrent access for unlimited time
Fair Value Measurement, Third Edition - Practical Guidance and Implementation: Practical Guidance and Implementation 3rd EditionDidesnis paveikslėlis
  • Formatas: 512 pages
  • Serija: Wiley Corporate F&A
  • Išleidimo metai: 10-Feb-2020
  • Leidėjas: John Wiley & Sons Inc
  • ISBN-10: 1119448727
  • ISBN-13: 9781119448723
Kitos knygos pagal šią temą:
Wiley Online E-booksMore info about Wiley Online
Partnerių interneto svetainė: https://onlinelibrary.wiley.com/doi/book/10.1002/9781119448723

Get up to date on the latest FASB, SEC, and AICPA guidelines and best practices

Fair Value Measurement provides hands-on guidance and the latest best practices for measuring fair value in financial reporting. The Financial Accounting Standards Board (FASB), the U.S. Securities and Exchange Commission (SEC), and the American Institute of CPAs (AICPA) have all updated their guidelines for practitioners, and this book details the changes from a practical perspective. This new third edition includes a discussion on Private Company Council accounting alternatives for business combinations and impairment testing, with a detailed example of the Market Participant Acquisition Premium (MPAP), including European and Asian examples and expanded discussion of IFRS. Ancillary materials including end-of-chapter questions and answers, PowerPoint slides, and a test bank help you quickly grasp the concepts presented, making this book ideal for both classroom and practitioner use.

Fair value measurement guidelines continue to evolve, and this comprehensive reference provides a valuable, up-to-date resource for preparers, auditors, and valuation specialists.

  • Adopt the best practices for implementing the FASB's Topic 820
  • Learn the latest reporting requirements for fair value measurements
  • Understand accounting alternatives for business combinations
  • Examine the details of MPAP in Europe and Asia

Applying fair value measurements to financial statements requires a move away from rules-based standards and toward application of professional judgment. This controversial shift has led to a reliance on valuation specialists, who face their own challenges in applying Topic 820 amidst an economic downturn and recovery, leading to an ever evolving set of best practices. Practitioners must stay up to date, and be aware of the changes as they occur. Fair Value Measurement provides the most recent information and a practical approach to this area of financial reporting.

Preface xiii
Acknowledgments xix
Chapter 1 The History and Evolution of Fair Value Accounting
1(30)
Why the Trend Toward Fair Value Accounting?
2(3)
History and Evolution of Fair Value
5(7)
Fair Value Accounting and the Economic Crisis
12(5)
The FASB and IASB Convergence Project
17(6)
The Future of Fair Value Measurement
23(1)
Fair Value Quality Initiative for Valuation Specialists
24(2)
Conclusion
26(1)
Notes
26(5)
Appendix 1A The Mandatory Performance Framework
31(50)
Performance Requirements
31(2)
Conclusion
33(13)
Notes
46(1)
Chapter 2 Fair Value Measurement Standards and Concepts
47(34)
FASB ASC 820, Fair Value Measurement
48(19)
Disclosures
67(3)
Fair Value Option
70(7)
Standards in the Valuation Profession and Fair Value Measurements
77(2)
Conclusion
79(1)
Notes
80(1)
Appendix 2A Taxes and Fair Value Measurements
81(62)
Summary of Changes under 2017 TCJA
81(4)
Chapter 3 Business Combinations
85(18)
Mergers and Acquisitions
86(2)
Accounting Standards for Business Combinations---A Brief History
88(2)
ASC 805, Business Combinations
90(5)
Other Business Combination Highlights
95(4)
Subsequent Accounting for Goodwill and Other Intangible Assets
99(1)
Conclusion
100(1)
Notes
101(2)
Chapter 4 The Nature of Goodwill and Intangible Assets
103(16)
History of Intangible Assets
104(1)
Intellectual Property
105(1)
Economic Basis of Intangible Assets
106(1)
Identification of Intangible Assets
106(5)
Useful Life of an Intangible Asset
111(1)
Intangible Assets and Economic Risk
112(1)
Goodwill
112(2)
Economic Balance Sheet
114(2)
Conclusion
116(1)
Notes
117(2)
Chapter 5 Impairment
119(24)
Evolution of Impairment Testing
120(2)
Applicable FASB Guidance for Impairment Testing
122(1)
Accounting for the Impairment of Long-Lived Assets
123(2)
Goodwill Impairment Testing---Public Companies
125(13)
Goodwill Impairment---One-Step Impairment Loss
138(1)
Testing Other Indefinite-Lived Intangible Assets for Impairment
139(1)
Amortization of Goodwill
139(1)
Conclusion
140(1)
Notes
140(3)
Appendix 5A Example of a Qualitative Impairment Analysis---PlanTrust, Inc.
143(184)
Financial Accounting Standards Board ASC 350, Intangibles---Goodwill and Other
143(1)
PlanTrust, Inc.
144(15)
Notes
159(2)
Chapter 6 The Cost Approach
161(22)
The Cost Approach under FASB ASC 820, Fair Value Measurement
162(2)
Economic Foundation for the Cost Approach
164(1)
Cost versus Price versus Fair Value
164(2)
The Role of Expected Economic Benefits in the Cost Approach
166(1)
Reproduction Cost versus Replacement Cost
167(1)
Components of Cost
168(1)
Obsolescence
169(1)
The Relationships Among Cost, Obsolescence, and Value
170(1)
Physical Deterioration
171(1)
Functional (Technological) Obsolescence
172(1)
Economic (External) Obsolescence
173(1)
Applying the Cost Approach
174(4)
Taxes Under the Cost Approach
178(1)
Limitations of the Cost Approach
179(1)
Conclusion
179(1)
Notes
180(3)
Chapter 7 The Market Approach
183(32)
Applying the Market Approach When Measuring the Fair Value of an Entity or a Reporting Unit of an Entity
184(29)
Conclusion
213(1)
Notes
213(2)
Chapter 8 The Income Approach
215(46)
Introduction
215(1)
Discounted Cash Flow Method
216(7)
Multiperiod Excess Earnings Method
223(16)
FASB Concepts Statement 7
239(5)
Rates of Return Under the Income Approach
244(1)
The Income Increment/Cost Decrement Method
245(1)
Profit Split Method
246(5)
Build-Out, or Greenfield, Method
251(1)
Weighted Average Cost of Capital Calculation
251(7)
Conclusion
258(1)
Notes
259(2)
Chapter 9 Advanced Valuation Methods for Measuring the Fair Value of Intangible Assets
261(22)
Introduction
261(1)
Limitations of Traditional Valuation Methods
261(2)
Real Options
263(3)
Using Option Pricing Methodologies to Value Intangible Assets
266(3)
Black-Scholes Option Pricing Model
269(3)
Binomial or Lattice Models
272(5)
Monte Carlo Simulation
277(3)
Decision Tree Analysis
280(1)
Conclusion
281(1)
Notes
281(2)
Chapter 10 Measuring the Remaining Useful Life of Intangible Assets in Financial Reporting
283(14)
FASB Guidance on Determining the Remaining Useful Life
283(2)
Considerations in Measuring Useful Lives of Intangible Assets
285(4)
Practical Guidance for Estimating and Modeling the Useful Life
289(6)
Conclusion
295(1)
Notes
295(2)
Chapter 11 Fair Value Measurement for Alternative Investments
297(14)
Introduction
297(2)
Investments in Certain Entities That Calculated Net Asset Value per Share
299(1)
AICPA Technical Practice Aid
300(1)
AICPA Guidance for Determining the Fair Value of Investment
301(4)
AICPA Accounting and Valuation Guide, Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies
305(1)
International Private Equity and Venture Capital Valuation Guidelines
306(1)
Common Valuation Methodologies of Measuring the Fair Value of the Fund's Investment Portfolio
307(1)
Conclusion
308(1)
Notes
308(3)
Chapter 12 Contingent Consideration
311(16)
Contingent Consideration: Earn-outs in Business Combinations
311(1)
Accounting for Contingent Consideration
312(12)
Conclusion
324(1)
Notes
324(3)
Appendix 12A Measuring the Fair Value of a Nonfinancial Contingent Liability---Example of a Loan Guarantee
327(36)
The Jordan Lee Fund Guarantee of Townsend Farm Development, LLC
328(6)
Notes
334(1)
Chapter 13 Auditing Fair Value Measurement
335(28)
Auditing Standards
336(2)
The Audit Process
338(4)
Evolution of Audit Standards for Fair Value Measurements and Disclosures
342(2)
Auditing Standard 2501, Auditing Accounting Estimates, Including Fair Value Measurements
344(5)
Auditing Standards for Auditor's Use of the Work of Specialists
349(5)
Proposed International Standard on Quality Management 1
354(1)
Practical Guidance for Auditors
354(2)
PCAOB Staff Audit Practice Alert No. 9, Assessing and Responding to Risk in the Current Economic Environment
356(2)
AICPA Nonauthoritative Guidance
358(1)
The Appraisal Foundation
359(1)
Conclusion
359(1)
Notes
360(3)
Appendix 13A Auditing Fair Value Measurement in a Business Combination
363(6)
Auditor Questions
363(1)
General
363(1)
Income Approach
364(2)
Cost Approach
366(1)
Market Approach---General
367(2)
Appendix 13B Auditing Fair Value Measurement in a Goodwill Impairment Test
369(38)
General
369(1)
Income Approach
370(1)
WACC
371(1)
The Market Approach
372(1)
Chapter 14 Fair Value Measurement Case Study
373(34)
Learning Objectives
373(1)
Business Background and Facts---Dynamic Analytic Systems, Inc.
374(32)
Notes
406(1)
Appendix 14A Suggested Case Study Solutions
407(32)
Note
437(2)
Appendix 14B Model Fair Value Measurements Curriculum
439(14)
Acknowledgments
439(1)
AICPA Staff
440(1)
About Us
440(1)
Preface
440(1)
Model Fair Value Measurement Curriculum
440(8)
Appendices and Examples
448(3)
Note
451(2)
Glossary of International Business Valuation Terms 453(10)
Bibliography 463(12)
About the Author 475(2)
Index 477
MARK L. ZYLA is a Managing Director of Zyla Valuation Advisors, LLC. an Atlanta, Georgia based valuation and litigation consultancy firm. He is a Certified Public Accountant, Accredited in Business Valuation (CPA/ABV), Certified in Financial Forensics (CFF) by the American Institute of Certified Public Accountants (AICPA), a Chartered Financial Analyst (CFA), and an Accredited Senior Appraiser with the American Society of Appraisers certified in Business Valuation (ASA).

Mark is the Chairman of the Standards Review Board of the International Valuation Standards Council (IVSC) and has served on the AICPA's Forensic and Valuation Services Executive Committee. Mark was inducted into the AICPA Business Valuation Hall of Fame in 2013.
Pastovi nuoroda: https://www.kriso.lt/db/9781119448723_pe.html