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Goodwill Amortization Controversy and CEIV Highlight Fair Value in 2020

Mark Zyla (Zyla Valuation Advisors) gives some highlights of what’s on the front burner for fair value in 2020, including issues surrounding the FASB’s invitation to comment on the impairment of goodwill, an important update to the Certified in Entity and Intangibles Valuation (CEIV) credential, the increasing globalization of the profession, and upcoming guidance.

Explanations of all new FASB guidance in one spot

A convenient tool for understanding all of the new financial reporting standards from the FASB is available on the organization’s own website, points out an article in the Tennessee CPA Journal (January/February 2020).

Agenda posted for ASA/USC fair value conference in Los Angeles June 20

An excellent lineup of speakers and topics has been announced for the 15th Annual ASA/USC Fair Value Conference on Thursday, June 18, at the offices of KPMG in downtown Los Angeles.

CFAI argues listed companies cannot afford proposed ‘wasting asset’ treatment of goodwill

BVWire—UK continues to cover the response to early-stage efforts to amortize the world’s goodwill assets.

New edition of fair value book is available

The third edition of Fair Value Measurement: Practical Guidance and Implementation is now available.

Business valuation essentials: don’t overvalue factored assets

Two years out, Carillion remains the largest trading liquidation under UK insolvency law.

Fair Value Measurements in 2020

CEIV. MPF. IVS. In the world of Fair Value Measurement it can be hard to keep your acronyms straight let alone keep your pulse on the latest developments. Expert Mark Zyla leads the demystifying session to help the rest of us to stay current on the issues. Bring questions and start 2020 off right with a kick off session from the man who literally wrote the book on Fair Value Measurements.

Fair Value Measurement: Practical Guidance and Implementation, 3rd Edition

January 2020 Hardcover (512 pages)

Mark Zyla

John Wiley & Sons, Inc.

Fair Value Measurement provides hands-on guidance and the latest best practices for measuring fair value in financial reporting. The Financial Accounting Standards Board (FASB), the U.S. Securities and Exchange Commission (SEC), and the American Institute of CPAs (AICPA) have all updated their guidelines for practitioners, and this book details the changes from a practical perspective. Learn more >>

ASA sets date set for its Fair Value Conference in Los Angeles

Regardless of whether or not you practice in the area of fair value, mark your calendar for the 15th Annual ASA/USC Fair Value conference on Thursday, June 18, at the offices of KPMG in downtown Los Angeles.

Date set for ASA Fair Value Conference in New York City

The American Society of Appraisers’ series of fair value conference, held in New York City, Los Angeles, and San Francisco, are definite stops on BVWire’s conference trip agenda.

Latest Resources to Help Improve the Valuation of Financial Instruments

A recap of recent resources that have emerged, including some new credentialing, that are designed to improve this area of practice. This is the valuation profession’s response to the concerns of financial regulators and others around the world about the quality and consistency of financial instrument valuations.

Finishing touch put on the CEIV credential program

The Quality Monitoring (QM) program for the Certified in Entity and Intangible Valuations (CEIV) credential has been finalized.

Should business valuation be more sensitive to market pricing?

BVWire—UK has been privy to a number of conversations recently with leaders from valuation professional associations around the globe.

Auditors to increase focus on quality of work of valuation experts

In its new standard concerning the use of specialists, the Public Company Accounting Oversight Board (PCAOB) wants auditors to move away from a checklist mentality and use more professional judgment.

New resources amass regarding valuing financial instruments

The valuation profession is responding to the concerns by financial regulators and others around the world about the quality and consistency of financial instrument valuations.

DCF Modeling for Early Stage Enterprises: A Fair Value Update

In In this panel discussion Antonella Puca, Andreas Dal Santo and Shilpa Chandra will discuss the special characteristics of DCF modeling as they pertain to the valuation of companies that are in the early years of their life and that have yet to become profitable (early stage enterprises or “ESE”s). Learn the relevance of terminal value in driving valuation for ESEs and the dynamic nature of the model, which can be adjusted at subsequent measurement ...

Disconnect in thoughts on PCAOB performance

The Center for Audit Quality (CAQ) reports that 83% of U.S. retail investors are confident that public-company auditors are effective in their investor protection roles, according to its 2019 Main Street Investor Survey.

Possible Change to Goodwill Model Generates Buzz at ASA Fair Value Conference

Unless there’s strong opposition, it appears likely that the FASB will ease the rules that currently require public companies to test annually for goodwill impairment, a process that has become so complex that the costs may be outweighing the benefits.

Timeline Reveals Advances in Building Trust in Fair Value for Financial Reporting

Business Valuation Update attended the recent RICS Business Valuation Symposium in New York City, during which speakers gave an overview of developments in fair value for financial reporting. One session presented a timeline that strikingly illustrates the remarkable advances the profession has made in this area of practice.

PCAOB issues new guidance on fair value

The Public Company Accounting Oversight Board has issued four documents that provide guidance on the new requirements for auditing accounting estimates and the auditor’s use of a specialist, which includes valuation experts.

CEIV logjam continues

Upwards of 150 individuals have earned the Certified in Entity and Intangible Valuations (CEIV) credential so far, but many more individuals have either enrolled in the program (630 actual enrollees but up to an estimated 800 individuals) or have inquired but not yet enrolled (three to 500 individuals), according to speakers at the recent ASA/USC 14th Annual Fair Value Conference in Los Angeles.

Talk of revising the CEIV MPF

There may be a revision to the Mandatory Performance Framework (MPF) for the Certified in Entity and Intangible Valuations (CEIV), according to Tony Aaron, who is retired from Ernst & Young and is now an adjunct professor at the USC Leventhal School of Accounting.

Using Asset Attrition to Determine Useful Life

The underlying assets that make up a business have a finite life, and knowing the rate at which their values decline is a critical skill for determining useful lives under ASC and other appraisal standards. To make this determination, a valuation professional needs knowledge of the underlying value drivers, but they also need a practical understanding of the tools and methods used to assess their values. Join expert Ray Rath for this in-depth session on ...

CPAs worried about financial instrument valuations

Over half (55%) of CPAs at companies with complex financial instruments on their books say they are concerned about the valuation of derivatives, according to the AICPA’s “Economic Outlook Survey” for the second quarter of 2019.

SEC approves PCAOB updates to fair value audit standards

The U.S. Securities & Exchange Commission (SEC) has approved proposed rules by the Public Company Accounting Oversight Board (PCAOB) to revise auditing standards that increase oversight of specialists employed by accounting firms.

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