Are your clients eligible to adopt the goodwill accounting alternative? Can you fully communicate the pros and cons?The Financial Accounting Standards Board (FASB) recently endorsed Private Company Council (PCC) proposals for alternative accounting of goodwill by private companies.
The PCC has also proposed alternative accounting for identified intangible assets in business combinations by private companies. If elected, the alternative accounting for private companies have material differences from current accounting under generally accepted accounting principles (GAAP). These alternatives may have implications for public companies as well. However, the elections may also have unintended consequences in the financial reporting of private companies. This topic will discuss the latest with these proposals.
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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