This course introduces the fundamental concepts and framework for measuring fair value under ASC Topic 820. It begins with the definition of fair value and the exit price concept, including the importance of using market participant assumptions when determining value. The course covers key concepts such as the principal market versus the most advantageous market, highest and best use considerations, unit of account, and when fair value measurements are required under U.S. GAAP. It also provides an overview of recurring and nonrecurring fair value measurements and highlights common accounting areas where fair value is used in financial reporting.
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
$10.00!
| Author: | Kelen Camehl |
| Course No: | ACT-ASC820FRAM-86706 |
| Recommended CPE: | 1.00 |
| 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.