| Title: |
Making Fair Value Measurements (ONL0086) |
| Prerequisite/Advanced Prep: |
None |
| Knowledge: |
Update |
| Field of Study: |
Accounting |
| Date of Publication: |
January 2007 |
| Copyright: |
© 2007 by Bisk Education, Inc. All rights reserved. |
| Recommended CPE Credits: |
1 QAS/Registry (based on 50-minute hour) |
| Expiration Date: |
One year from date of receipt to complete program and submit quizzer to obtain credit |
| Passing Grade for Quizzer: |
70 percent or higher |
J. Russell Madray reviews recent guidance issued by the Financial Accounting Standards Board related to fair value. In this standard the FASB gathers in one place the literature related to how to determine fair value.The FASB also provided preparers and practitioners with a new definition of fair value that focuses on market-based exit prices and a fair value hierarchy.
Note: Reporting of CPE credit to a CPA’s state board is the responsibility of the CPA. Subscribers to CPE Network Accounting & Auditing Report may not receive duplicate credit for this material, which previously aired in the January 2007 edition of this program.
This text is divided into three chapters:
Chapter 1 discusses fair value, where it is used, the previous guidance that existed and how this new guidance can be used.
Chapter 2 reviews the guidance in SFAS No. 157, Fair Value Measurement.
Chapter 3 provides review questions on this topic.