Video

  • 33 minutes

Private Company Council, and Regulators and Fair Value

 
The Financial Accounting Standards Board (FASB) recently issued exposure drafts of Accounting Standards Updates (ASUs) designed to reduce the cost and complexity of accounting for intangible assets acquired by private companies in business combinations. There were concerns from private company preparers regarding cost and complexities of these updates. Due to these concerns the AICPA created a board that represented the interests of preparers and users of financial statements for private companies. That board is known as the Private Company Council. It is a separate organization which is a sister organization to the FASB. It is an advisory group to the FASB which was formed to improve the process of standards setting for pricate companies.

In this 32-minute video our speaker, Mark L. Zyla CPA/ABV, CFA, ASA, reviews private company council alternative accounting standards and the impact of alternative elections on financial reporting.

Mark L. Zyla CPA/ABV, CFA, ASA, is a managing director of Acuitas Inc in Atlanta, Georgia. He is an experienced practitioner with fair value measurements. Mr. Zyla 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.
Runtime: 32 minutes

Faculty

Mark L. Zyla, CPA/ABV, CFA, ASA

Mark L. Zyla, CPA/ABV, CFA, ASA

Zyla Valuation Advisors LLC

Agenda

Faculty

Mark L. Zyla, CPA/ABV, CFA, ASA

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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