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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

Learning Objectives

  • Discover how International Financial Reporting Standard (IFRS) 13 simplifies Fair value Measurement
  • Identify what parts of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 820 (formerly Statement of Financial Accounting Standards (SFAS) 157) are aligned with IFRS 13
  • Explore commonly used valuation techniques
  • Recognize common oversights in applying these valuation techniques
  • Explore examples of how IFRS 13 affects financial instruments, intangibles, non-financial assets, and liabilities
Last updated/reviewed: November 22, 2019

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  6:44Introduction to How Fair Value Reporting is Different under IFRS (IFRS 13 and FASB Topic 820)
  2:19Definitions & Hash Codes
  4:46Framework & Exit Price
  5:51Impact & The Market
  5:14Pricing Hierarchy & Measurement
  5:41Market Approach and DCF Method
  5:10Dividend Discount Model & Constant Growth DDM
  7:09Capitalization Model & Adjusted Net Asset Model
  9:02Common Oversights
  8:43Disclosures
  1:55Summary
CONTINUOUS PLAY
  1:02:34How Fair Value Reporting is Different under IFRS (IFRS 13 and FASB Topic 820)
SUPPORTING MATERIALS
  PDFSlides: How Fair Value Reporting is Different under IFRS
  PDFHow Fair Value Reporting is Different under IFRS Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM