Program: Fair Value for Financial Reporting Workshop
Program Sponsor: CTI, Beckmill Research, and Marshall & Stevens
Focus:
As “Fair Value” becomes an integral part of financial reporting, financial professionals must develop skills to understand and implement the new accounting standards. This course* will be co-taught by two experienced valuation practitioners utilizing a case-study format. The three-day program will cover the new definition of fair value provided in SFAS 157, allocation of purchase price under SFAS 141, the impact of SFAS 141(R) on purchase price allocations, impairment testing under SFAS 142/144, and the valuation of options under SFAS 123(R).
What You Will Learn:
Attendees will acquire practical training in the following areas:
• Understanding the Financial Accounting Standards Board’s (FASB) concept of fair value
The FASB concluded that fair value information is relevant and users of financial statements generally have agreed. Others, however, have expressed concerns about the ability to apply the fair value measurement objective in GAAP. The workshop will examine FASB pronouncements that require fair value measurements and guidance differences that have created inconsistencies related to the complexities in GAAP.
• Guidance in working with the auditors
Auditors often have their own unique and often contradictory interpretations of SFAS 157 (and 141(R) and 142). This opens the possibility that each might look for different weaknesses when they see a fair value report. The workshop will discuss standards and methods for fair value, along with other financial reporting engagements, including current trends and developments.
• Techniques for identifying and methods for valuing intangible assets
Participants will be exposed to a broad spectrum of techniques for identifying and methods of valuing intangible assets and intellectual property covering business reporting and litigation arenas. Several case studies and redacted reports will demonstrate and reinforce the concepts involved.
• Commonly accepted methods of testing for impairment
Valuation professionals are often requested to test intangibles for impairment pursuant to SFAS 142 and 144. Many issues involved with these analyses are rarely discussed. Attendees will gain insight into how to deal with these issues and common mistakes to avoid.
• Considerations for estimating useful lives
The workshop will provide guidance on the determination of the useful life of intangible assets. Areas to be discussed include expected cash flows used to measure the fair value of the asset, the weighted-average period to the next renewal, an entity’s history of renewal for similar assets, changes in the likelihood of renewal or extension, and amounts incurred to renew or extend the contractual term of an intangible asset.
• Appropriate methodologies for valuing employee stock options
Attendees will learn the variables that are used to calculate the fair value of ESOs. The workshop will discuss how changes in the required variables drive ESOs’ fair value and the resulting effect on total compensation expense. Record-keeping responsibilities, modeling resources and data requirements, and Lattice and Black-Scholes option-pricing models will also be reviewed.
Daily Schedule:
Forthcoming
Who Should Attend
Those who have attended IBA’s or NACVA’s Business Valuation and Certification Training Center or aspiring valuation practitioners looking to take their skill set to a higher level and obtain their training at one venue.
Pricing 2009
2009 Package Pricing
(Before early registration discounts.)...........Non-Member.............Member
Three-day Workshop...................................................$1,800..................$1,620
NASBA Sponsorship
IBA and NACVA are registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, http://www.nasba.org. 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417
