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: August 20, 2023
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 .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to How Fair Value Reporting is Different under IFRS (IFRS 13 and FASB Topic 820) 6:43
  Definitions & Hash Codes2:19
  Framework & Exit Price4:45
  Impact & The Market5:50
  Pricing Hierarchy & Measurement5:14
  Market Approach and DCF Method5:40
  Dividend Discount Model & Constant Growth DDM5:09
  Capitalization Model & Adjusted Net Asset Model 7:08
  Common Oversights9:02
  Disclosures8:43
  Summary1:54
CONTINUOUS PLAY
  How Fair Value Reporting is Different under IFRS (IFRS 13 and FASB Topic 820)1:02:33
SUPPORTING MATERIALS
  Slides: How Fair Value Reporting is Different under IFRSPDF
  How Fair Value Reporting is Different under IFRS Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam