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This course provides an overview of fair value measurements under ASC Topic 820 and the principles used to determine fair value under U.S. GAAP. It begins with the foundational concepts of fair value, including the exit price approach, market participant assumptions, and the fair value hierarchy. The course then expands to cover valuation techniques, including the market, income, and cost approaches, as well as the application of fair value concepts in areas such as business combinations, impairment testing, and financial instruments. This course concludes with an examination of the common challenges associated with fair value measurements, including the use of significant estimates, management assumptions, and valuation judgments.
Course Publication Date: August 22, 2026
This course is available with NO ADDITIONAL FEE if you have an active self study membership or all access membership or can be purchased for $40.00!
| Author: | Kelen Camehl |
| Course No: | ACT-ASC820FV-87106 |
| Recommended CPE: | 4.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Basic |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting
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Learning Objectives
- Identify the key concepts underlying fair value measurements under ASC Topic 820.
- Recall the primary elements of the fair value definition and exit price concept.
- Distinguish between the principal market and most advantageous market.
- Identify the types of inputs used in fair value measurements.
- Distinguish between Level 1, Level 2, and Level 3 inputs.
- Determine the appropriate level of inputs used in fair value measurements.
- Recognize challenges associated with unobservable inputs and management assumptions.
- Identify the primary valuation approaches used to measure fair value.
- Select appropriate valuation techniques based on available information.
- Distinguish between market, income, and cost approaches.
- Identify common accounting areas requiring fair value measurements.
- Recognize risks associated with fair value estimates and assumptions.
- Determine how valuation judgments impact fair value measurements.
- Select appropriate considerations when evaluating complex fair value measurements.
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