Course Information

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FAS 157 and 159: Fair Value Measurements
Author: Steven C. Fustolo, CPA

Description:
This course begins with a comparison of the historical cost accounting model and the fair value accounting model, noting the advantages and disadvantages of each. It then provides a concise review of FASB Statements No. 157 and 159 that is easy to understand. The course highlights the overall objectives of the statements and summarizes fair value concepts. Examples are used to illustrate the application of FASB 157 and FASB 159.

Topics covered in this course include:

  • Financial measurements under existing GAAP
  • Rules and scope of FASB Statements 157 and 159
  • Valuation techniques
  • Fair value hierarchy
  • Disclosures
  • Effective date and transition
  • Examples of Application of FASB 157 and 159

Course Details:
Price:  $30.00
Field of Study:  Accounting
Prerequisites:  Basic knowledge of accounting
Level:  Update
Advanced Preparation:  None
Course was last updated on:  03/24/09
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Library:
Accounting and Audit

Technical Requirements:
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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.

User Reviews
Reviewer: William S. submitted on 01/06/2010
It was very organized and topics were broken out very well
Reviewer: Jose B. submitted on 01/04/2010
Display of material
Reviewer: Joseph L. submitted on 01/04/2010
Examples.
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