Presentation Date: Sunday August 2, 2009
  Presentation Time: 8:00 am-11:00 am

CPE Session 24

Fair Value Accounting: Lessons from Practice

Presented By:

Frank Beil, University of Minnesota

Description: Fair Value Accounting has proven to be one of the most controversial accounting standards ever issued. Practitioners are preplexed and dismayed in having to apply, what many believe to be, an overly theoretical standard to accounting transactions and measurements.

The seminar will provide attendees with an update of how the standard was applied to both financial and non-financial companies and the difficulties encountered in applying the conceptual valuation guidance.

Format is lecture/discussion with numerous examples from publicly traded companies as we examine and explore the applications of fair value measurements.

Primary source document is the SEC Mark to Market Study released in Jan 2009.

Field of Study: Accounting
Program Level: Update

Intended Audience: Financial Accounting Instructors--Intermediate Accounting to Graduate Accounting Courses

Format/Structure: Lecture/Discussion Financial Statement excerpts on Fair Value Measurements

Learning Objective: Have a greater understanding of how companies apply fair value measurements in preparing financial statements. Better able to integrate fair value measurement concepts and practices in their teaching materials.

Prerequisites: None

Advanced Preparation Required: None

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