Course Information

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FASB 157: Fair Value Measurements
Author: Steven C. Fustolo, CPA

Description:
FASB 157: Fair Value Measurements defines fair value and establishes a framework for measuring fair value as used in GAAP. The Statement also expands disclosures about fair value measurements.

Upon completing this course, the learner will be able to:

  • Make a distinction between the historical cost accounting model and the fair value accounting model, noting the advantages and disadvantages of each
  • Determine when FASB No. 157 should be applied
  • Define the term “fair value”
  • Explain the assumptions of fair value measurement
  • Define “transaction costs” and “transport costs”
  • Describe the three valuation approaches used to determine fair value
  • Differentiate between observable inputs and unobservable inputs
  • Categorize inputs using the fair value hierarchy
  • Apply disclosure requirements per FASB No. 157
Course Details:
Price:  $24.00
Field of Study:  Accounting
Prerequisites:  None
Level:  Overview
Advanced Preparation:  None
Course was last updated on:  06/28/07
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Library:
Learning Center Core

Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

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