Welcome to the new world of accounting! While financial statement preparation once focused on historical cost information, accounting now involves a judgment as to the fair value of assets and liabilities. Fair Value Measurements: Practical Guidance and Implementation demystifies this topic, offering a nuts-and-bolts guide dedicated to equipping corporate management, valuation specialists, and auditors of the most recent developments in preparing financial statements using fair value measurements. This straightforward book covers the best practices on measuring fair value in a business combination and how to subsequently test the value of these assets for impairment.
Author and valuation specialist Mark Zyla clearly shows his experience in this subject, filtering complicated insider concepts into easy-to-understand information on the valuation specialist’s function, the many new FASB pronouncements involving fair value, and the accounting and auditing requirements for fair value reporting. Fair Value Measurements: Practical Guidance and Implementation instantly familiarizes the reader on the ins and outs of fair value financial disclosure, with coverage of:
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The history behind fair value accounting and the impact of the current economic crisis
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Fair value measurements in business combinations and subsequent testing for impairment
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The nature of intangible assets
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The cost approach
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The market approach
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The income approach
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Advanced valuation methods for measuring the fair value of intangible assets
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Measuring the remaining useful life of intangible assets in financial reporting
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Fair value measurements under IFRSs
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Disclosures in fair value measurements
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Fair value in private equity and other alternative investments¿
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Auditing fair value measurements
Well written and conversational in tone and filled with valuable insights, Fair Value Measurements: Practical Guidance and Implementation lifts the veil of confusion from the substantial and growing requirements for fair value disclosures.
From the Back Cover
Praise for Fair Value Measurements: Practical Guidance and Implementation
“Writing Fair Value Measurements was a monumental task fraught with controversy not only in the U.S. but also abroad. Having coauthored a book with Mark as well as written one myself, I was even more impressed that Mark was able to navigate these fair value minefields and produce a work that will be a tremendous help to accountants and non-accountants alike. If you are looking for a ‘one-stop’ book on fair value measurements, this is it!”
—Neil J. Beaton, CPA/ABV, CFA, ASA, National Partner in Charge, Valuation Services, Grant Thornton LLP
“In recent years, the FASB and the IASB have added many requirements for various assets and liabilities to be measured at fair value. In this book, Zyla clearly describes how to implement these fair value measurements and how investors and creditors should interpret them. The crisp writing and illuminating analysis will help readers to grasp the essence of fair value accounting and to apply it wisely.”
—J. Edward Ketz, Associate Professor of Accounting, Pennsylvania State University
A hands-on guide for financial executives needing to understand the fair value measurement process
In basic, nontechnical language, Fair Value Measurements: Practical Guidance and Implementation will help all financial executives and auditors succeed in understanding the fair value accounting rules that corporations must follow. The result is a resource that professionals can rely on to understand the importance of valuation and the concepts that define it.
Filled with practical direction for best practices of financial valuation as well as for understanding the many FASB pronouncements involving fair value, Fair Value Measurements: Practical Guidance and Implementation brings senior-level executives up to speed on what fair value really means.
About the Author
Mark L. Zyla, CPA/ABV, CFA, ASA, is currently Managing Director of Acuitas, Inc., an Atlanta, Georgia–based valuation and litigation consultancy firm, providing valuation consulting for various types of entities for the purposes of mergers and acquisitions, financial reporting, tax planning, corporate recapitalizations, as well as valuing various types of intellectual property and other intangible assets. Mark frequently writes and speaks on the issue of fair value in financial reporting. He is coauthor of the AICPA courses “Fair Value Accounting: A Critical New Skill for All CPAs” and “Valuing Goodwill and Other Intangible Assets.” He is a coauthor of the International Glossary of Business Valuation Terms, which has been adopted by major valuation organizations. He is a member of the AICPA’s Fair Value Resource Panel and is a current member of the AICPA’s Impairment Issues Task Force. Mark was also the chairman of the AICPA’s first conference on fair value measurements. He was also the vice chairman of the Appraisal Foundation’s first Best Practices for Valuation in Financial Reporting Intangible Asset Working Group. He has been on the faculty of the National Judicial College, teaching business valuation to judges. Mark lives in Atlanta, Georgia, with his wife, Jo Ann, and his son, Jack.
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