CPE Session 9: Saturday, August 2, 1:00 PM – 4:00 PM

Fair Value Accounting:
How FAS 157 Will Change Accounting Education

(Accounting – Intermediate)

Description/Objectives:
Fair Value Accounting will fundamentally alter how accounting concepts will be delivered in an educational or training environment. Both the FASB and the IASB are moving, inexorably, to a Fair Value Accounting Model for Financial Statements.

This workshop will present the basics of the Fair Value Measurement Standard (FAS 157 and FAS 159) as well as practical considerations of how existing accounting pronouncements will change for the publicly held and privately held businesses. The practice considerations will be the result of numerous seminars given to participants from investment banking, banking institutions, mortgage companies and other industries principally affected by the new standards.

The workshop will involve lecture/discussion of how Fair Value Accounting will change the content and delivery of accounting education as well as how companies are changing their financial accounting and reporting to implement the challenges of fair value accounting.

Should be great fun as we, as a group, explore what is sure to be the most contentious accounting standard ever issued.

Presenter:
Frank J. Beil, University of Minnesota

Note: CPE fields of study are in parentheses