Gain a better understanding of financial statements with the current status of best practices in fair value measurement for financial reporting.
Fair value measurement in financial reporting is a controversial topic. Investors indicate that they prefer the information that fair value conveys when making an investment decision. Some preparers, particularly certain private companies wonder if fair value is worth the cost and complexity for their needs. Fair value measurement requires certain judgment by valuation specialists in which also present unique challenges to preparers and auditors. Business combinations and goodwill will provide preparers of financial statements with the current status of best practices in fair value measurement for financial reporting, particularly with business combinations, including the latest with private company alternative accounting and the fair value quality initiative. The material will also discuss regulators viewpoints on measuring fair value and other audit concerns. Finally the information will discuss the status of credentialing valuation specialists who practice in this area.
Agenda
Faculty
Mark L. Zyla, CPA/ABV, CFA, ASA
Zyla Valuation Advisors LLC
- Managing director of Acuitas Inc in Atlanta, Georgia as an experienced practitioner with fair value measurements
- Wrote Fair Value Measurement: Practical Guidance and Implementation, 2nd ed, published by John Wiley & Sons, he also co-wrote several portfolios on fair value topics published by BNA Bloomberg; he wrote Fair Value Accounting course published by the AICPA
- Has served on several professional committees which developed best practices in fair value including the "AICPA’s Accounting and Valuation Guide," "Testing Goodwill for Impairment," and the "Appraisal Foundation’s Contributory Asset Charges" monograph
- Member of the AICPA’s FVS Executive Committee as well as the Business Valuation Committee of the American Society of Appraisers
- Conducts a two day workshop twice a year for the AICPA on "Fair Value Measurements"
- Inducted into the AICPA’s Business Valuation Hall of Fame in 2013
- Chairman of the Standards Review Board of the International Valuation Standards Council ( IVSC)
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