Description
Learn to recall and identify the related accounting standards from the FASB Accounting Standards Codificationc .
Objectives
- Recall the definition of key terms used in FASB ASC 820, Fair Value Measurement
- Recall the scope and required disclosures in FASB ASC 820.
- Recognize how to classify financial instruments by level within the fair value hierarchy and by type of instrument.
- Identify considerations related to initial recognition, subsequent measurement, and impairment.
- Recall the basic concepts included in other fair value standards (FASB ASC 718, Compensation-Stock Compensation, FASB ASC 815, Derivatives and Hedging, and FASB ASC 825, Financial Instruments).
- Identify differences between GAAP and IFRS.
Highlights
- FASB ASC 820, Fair Value Measurement
- Fair value framework
- Valuation techniques and inputs
- Impairment of financial instruments
- Other fair value standards