How Fair Value Reporting is Different under IFRS: (IFRS 13 and FASB Topic 820) Fair Value Measurement and Disclosure Requirements

The International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB) have gotten together and have made some significant additional changes to International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP) for measuring fair value and required related disclosures. You need to understand the implications of these changes now because their expected impact on future financial statements must be disclosed in the current financial statements. Not only will you have to make significant changes, you will also have to disclose in the Notes how you arrived at your conclusions.

Course Key Concepts: IFRS, IFRS 13, Topic 820, Fair Value, Market approach, Income approach, Adjusted net asset approach, Financial instruments, Intangibles, Non-financial assets, Liabilities