Fair Value Measurement

Get up to date on the latest FASB, SEC, and AICPA guidelines and best practices

Fair Value Measurement provides hands-on guidance and the latest best practices for measuring fair value in financial reporting. The Financial Accounting Standards Board (FASB), the U.S. Securities and Exchange Commission (SEC), and the American Institute of CPAs (AICPA) have all updated their guidelines for practitioners, and this book details the changes from a practical perspective. This new third edition includes a discussion on Private Company Council accounting alternatives for business combinations and impairment testing, with a detailed example of the Market Participant Acquisition Premium (MPAP), including European and Asian examples and expanded discussion of IFRS.

Fair value measurement guidelines continue to evolve, and this comprehensive reference provides a valuable, up-to-date resource for preparers, auditors, and valuation specialists.

• Adopt the best practices for implementing the FASB's Topic 820
• Learn the latest reporting requirements for fair value measurements
• Understand accounting alternatives for business combinations

• Examine the details of MPAP in Europe and Asia

Applying fair value measurements to financial statements requires a move away from rules-based standards and toward application of professional judgment. This controversial shift has led to a reliance on valuation specialists, who face their own challenges in applying Topic 820 amidst an economic downturn and recovery, leading to an ever evolving set of best practices. Practitioners must stay up to date, and be aware of the changes as they occur. Fair Value Measurement provides the most recent information and a practical approach to this area of financial reporting.

MARK L. ZYLA is a Managing Director of Zyla Valuation Advisors, LLC. an Atlanta, Georgia based valuation and litigation consultancy firm. He is a Certified Public Accountant, Accredited in Business Valuation (CPA/ABV), Certified in Financial Forensics (CFF) by the American Institute of Certified Public Accountants (AICPA), a Chartered Financial Analyst (CFA), and an Accredited Senior Appraiser with the American Society of Appraisers certified in Business Valuation (ASA).

Mark is the Chairman of the Standards Review Board of the International Valuation Standards Council (IVSC) and has served on the AICPA's Forensic and Valuation Services Executive Committee. Mark was inducted into the AICPA Business Valuation Hall of Fame in 2013.

The most recent developments and best practices for applying fair value measurement in financial reporting The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have brought fair value measurements in financial reporting together through the issuance of parallel statements. This move away from traditional measurements under accounting standards requires a degree of professional judgment, often provided by an outside valuation specialist. Financial executives, valuation specialists, and auditors need to be aware of the latest requirements for applying fair value measurement to financial statements. The Third Edition of Fair Value Measurement brings together best practice accounting and valuation guidance on relevant FASB Accounting Standards Codification (ASC) standards, such as ASC 820, Fair Value Measurements . This fully updated edition offers new and revised coverage of Private Company Council (PCC) accounting alternatives for business combinations and impairment testing, the latest on testing for impairment of goodwill for public entities, the application of the Market Participant Acquisition Premium (MPAP), fair value measurement of portfolio investments, and expanded discussion of fair value measurements under International Financial Reporting Standards (IFRS).

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