Fair Value for Financial Reporting: Meeting the New FASB Requirements - Hardcover

Über die Autorin bzw. den Autor

Alfred M. King (Spotsylvania, VA), CMA, is the Vice Chairman of Marshall & Stevens, a national firm of appraisers. He is also a past Chairman of the Accounting Committee of the Institute of Management Accountants.

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Is Purchase Price Equal to Fair Value?

With the FASB changing the requirements for increasing categories of assets and liabilities to be shown at current fair value, Fair Value for Financial Reporting answers this and other pertinent questions with crystal clarity. Alfred King, a top expert in the field, provides financial executives and auditors with a deep understanding of fair value reporting, the appraisal process, and appraisal services, and demystifies this topic with practical advice and helpful knowledge, making it a trusted reference on the ins and outs of fair value financial disclosure.

Fair Value for Financial Reporting highlights the accounting and auditing requirements for fair value information and offers a detailed explanation of how the FASB is going to change "fair value" with topics including: the FASB's fair value proposals; determining the fair value of intangible assets; whether fair value can truly be audited; valuation of liabilities and contingent payments; valuation of hard assets and real estate; why two appraisers come up with different results; auditing of valuation reports; and selecting and working with an appraiser.

Aus dem Klappentext

In today's dynamic and volatile markets, whether buying or selling, what corporate officers need to know is the current worth of an asset. Although the FASB has now concluded that fair value is the most relevant measure for financial instruments, determining fair value for investors has become a complex and, at times, confusing task.

Fair Value for Financial Reporting is a nuts-and-bolts book dedicated to equipping corporate financial officers and auditors with the tools to understand fair value and the appraisal process and to become educated buyers of appraisal services. Author Alfred King, valuation authority, clearly shows his experience in this subject, filtering complicated insider concepts into easy-to-understand information on the valuation specialist's function, the many new FASB pronouncements involving fair value, and the accounting and auditing requirements for fair value reporting.

Not designed as a how-to book on performing appraisal, Fair Value for Financial Reporting instead familiarizes financial officers on the ins and outs of fair value financial disclosure, including:

• Preparation of valuations in a manner consistent with GAAP and current SEC interpretations after the Sarbanes-Oxley Act
• Selecting an appraiser
• What corporate executives should expect from their appraisers and valuation specialists
• How appraisers develop fair value and the assumptions they have to make
• How corporate liabilities such as lawsuits and contingent payments are now valued
• How to evaluate an appraisal report
• Valuation of financial instruments

Well written, conversational in tone, and filled with valuable insights, Fair Value for Financial Reporting lifts the veil of confusion from the substantial and growing requirements for fair value disclosures.