CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

The Professional's Guide to Fair Value

Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
10 Credits: Accounting

Course Description

With the important role fair value is playing in the creation of a converged set of global accounting standards, demand for products in this category is growing spectacularly. This course covers the elements and basics of fair value, including risk, dealing with the SEC, and details on legal responsibility. In addition, sample financial statements are included, along with tables, recommended applicable techniques, and management checklists for those who are responsible for preparing and approving of financial statements.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify an intangible asset
  • Determine significant uses of valuation

Chapter 2

  • Define fair value
  • Identify other categories of value
  • Recognize key valuation principles and secondary factors that are important in measuring fair value

Chapter 3

  • Identify the six stages of calculating fair value, noting the characteristics of each stage and applicable examples

Chapter 4

  • Define tools used to analyze prospective financial information
  • List the stages involved in developing scenario analysis, noting characteristics and methodologies

Chapter 5

  • Recognize the process of compiling and preparing financial projections, noting key terms, context, structure, models, assumptions, and results

Chapter 6

  • Recognize the classification of assets at historical cost versus recording assets in categories that reflect their intrinsic characteristics, noting methods for applying the market approach of valuation and factors that help in selecting, comparing, and analyzing transaction data
  • Identify comparable transactions or guideline entities, noting the selection process, sources of company information, weighting, and industry background

Chapter 7

  • Recognize the components and process for determining current replacement cost
  • Identify four factors that are used to estimate amounts to be deducted, noting the definition for each and the applicable integration of the impact of the factors
  • Recognize the characteristics of asset depletion, the useful lives and remaining useful lives of an asset, and examples of intangible and entertainment assets

Chapter 8

  • Specify the two methods under the income approach of valuation, noting their characteristics, components, and calculation requirements

Chapter 9

  • Identify the process of innovation, noting the characteristics of each phase, value constellations, the Proctor & Gamble approach, and value maps
  • Recognize the components, calculations, and profit margin drivers for DuPont analyses

Chapter 10

  • Define reduction of risks
  • Identify techniques that reduce risks, including continual monitoring and testing, dealing with biases, and using the risk rate component model

Chapter 11

  • Recognize the process of valuing liabilities, noting the impact of liabilities that are transferred rather than settled, settlement amounts versus fair value, and credit changes
  • Identify asset retirement obligations and contingent liabilities

Chapter 12

  • Specify motivating factors behind business combinations
  • Recognize the synergies and strategic advantages resulting from a business combination, noting quantifiable factors that increase revenues and lower costs

Chapter 13

  • Identify the stages in the purchase price allocation process, noting key terms, components, classifications, and procedures of each stage
  • Recognize the classification categories for intellectual property, noting applicable key term definitions, accounting requirements, and methods of valuation

Chapter 14

  • Recognize the various reporting units and applicable impairment allocation
  • Identify the elements and procedures for GAAP long-lived assets impairment tests, IFRS impairment tests, and the GAAP goodwill impairment tests

Chapter 15

  • Recognize the auditor’s role in the measurement, accounting, and disclosure of fair values, noting auditing requirements, challenges, potential fraud, and going concern

Course Specifics

Course ID
1123367
Revision Date
June 25, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

James P. Catty Headshot
James P. Catty, CPA/ABV (US), CA/CBZ

James P. Catty, CPA/ABV (US), CA/CBZ (Canada), CFA, CFE, CGMA, ICVS, MA, is the president and founder of Corporate Valuation Services Limited, a Canadian firm that specializes in valuing technology-oriented businesses throughout the world. In 2006, he became chairman of the International Association of Valuators, Consultants, and Analysts (IACVA), a global financial knowledge transfer and accrediting association with presence in over 20 countries. Since 2008, he has served as counsel to Hanlin Moss, PS, in Seattle, Washington, and Xi’an, China. He holds BA and MA degrees from Oxford and has been active in the profession for over 50 years. Clients …

James P. Catty, CPA/ABV (US), CA/CBZ Read More »

The Professional's Guide to Fair Value

Format
CPE CREDITS
10 Credits: Accounting

$290.00$320.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
10 Credits: Accounting

Course Description

With the important role fair value is playing in the creation of a converged set of global accounting standards, demand for products in this category is growing spectacularly. This course covers the elements and basics of fair value, including risk, dealing with the SEC, and details on legal responsibility. In addition, sample financial statements are included, along with tables, recommended applicable techniques, and management checklists for those who are responsible for preparing and approving of financial statements.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify an intangible asset
  • Determine significant uses of valuation

Chapter 2

  • Define fair value
  • Identify other categories of value
  • Recognize key valuation principles and secondary factors that are important in measuring fair value

Chapter 3

  • Identify the six stages of calculating fair value, noting the characteristics of each stage and applicable examples

Chapter 4

  • Define tools used to analyze prospective financial information
  • List the stages involved in developing scenario analysis, noting characteristics and methodologies

Chapter 5

  • Recognize the process of compiling and preparing financial projections, noting key terms, context, structure, models, assumptions, and results

Chapter 6

  • Recognize the classification of assets at historical cost versus recording assets in categories that reflect their intrinsic characteristics, noting methods for applying the market approach of valuation and factors that help in selecting, comparing, and analyzing transaction data
  • Identify comparable transactions or guideline entities, noting the selection process, sources of company information, weighting, and industry background

Chapter 7

  • Recognize the components and process for determining current replacement cost
  • Identify four factors that are used to estimate amounts to be deducted, noting the definition for each and the applicable integration of the impact of the factors
  • Recognize the characteristics of asset depletion, the useful lives and remaining useful lives of an asset, and examples of intangible and entertainment assets

Chapter 8

  • Specify the two methods under the income approach of valuation, noting their characteristics, components, and calculation requirements

Chapter 9

  • Identify the process of innovation, noting the characteristics of each phase, value constellations, the Proctor & Gamble approach, and value maps
  • Recognize the components, calculations, and profit margin drivers for DuPont analyses

Chapter 10

  • Define reduction of risks
  • Identify techniques that reduce risks, including continual monitoring and testing, dealing with biases, and using the risk rate component model

Chapter 11

  • Recognize the process of valuing liabilities, noting the impact of liabilities that are transferred rather than settled, settlement amounts versus fair value, and credit changes
  • Identify asset retirement obligations and contingent liabilities

Chapter 12

  • Specify motivating factors behind business combinations
  • Recognize the synergies and strategic advantages resulting from a business combination, noting quantifiable factors that increase revenues and lower costs

Chapter 13

  • Identify the stages in the purchase price allocation process, noting key terms, components, classifications, and procedures of each stage
  • Recognize the classification categories for intellectual property, noting applicable key term definitions, accounting requirements, and methods of valuation

Chapter 14

  • Recognize the various reporting units and applicable impairment allocation
  • Identify the elements and procedures for GAAP long-lived assets impairment tests, IFRS impairment tests, and the GAAP goodwill impairment tests

Chapter 15

  • Recognize the auditor’s role in the measurement, accounting, and disclosure of fair values, noting auditing requirements, challenges, potential fraud, and going concern

Course Specifics

Course ID
1123367
Revision Date
June 25, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

James P. Catty Headshot
James P. Catty, CPA/ABV (US), CA/CBZ

James P. Catty, CPA/ABV (US), CA/CBZ (Canada), CFA, CFE, CGMA, ICVS, MA, is the president and founder of Corporate Valuation Services Limited, a Canadian firm that specializes in valuing technology-oriented businesses throughout the world. In 2006, he became chairman of the International Association of Valuators, Consultants, and Analysts (IACVA), a global financial knowledge transfer and accrediting association with presence in over 20 countries. Since 2008, he has served as counsel to Hanlin Moss, PS, in Seattle, Washington, and Xi’an, China. He holds BA and MA degrees from Oxford and has been active in the profession for over 50 years. Clients …

James P. Catty, CPA/ABV (US), CA/CBZ Read More »

The Professional's Guide to Fair Value

Format
CPE CREDITS
10 Credits: Accounting

$290.00$320.00

Clear