Fair Value: Overview of ASC 820

Do you realize that fair value is one of the most widespread financial concepts in U.S. GAAP? As such, this course is a must for any accountant or auditor! After a review of the various balance sheet items which utilize fair value measurements, this CPE-eligible, eLearning course (1.5 CPE) explores key concepts of fair value including: Utilizing market participant assumptions, distinguishing between orderly transactions versus forced transactions, using exit prices and not entry prices, and determining the principal market. This online course then discusses the various approaches to determine fair value measurements, including the importance of inputs and their classification within the fair value hierarchy. The course concludes with a look at "real-life" fair value disclosures, highlighting the disclosure requirements within ASC 820.

This is the first course in our four-part fair value training series.

 By the end of this course, you should be able to: 

• Recall the key components of the definition of fair value in accordance with ASC 820 
• Identify the appropriate level in the fair value hierarchy for various instruments measured at fair value 
• Recognize the fair value disclosure requirements under ASC 820