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Course Details

The Impact Of Fair Value On The Banking Industry

Webinar: ID# 1021670
Recorded CD
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About This Course:
Fair value measurement in financial reporting is a controversial topic in the banking industry.

Investors indicate that they prefer the information that fair value conveys when making an investment decision. Some preparers are concerned if fair value is worth the cost and complexity for their needs.

The Credit Crisis highlighted the impact of fair value on financial institutions. Fair value measurement requires certain judgment in which also presents unique challenges to preparers and auditors.

"The Impact of Fair Value Measurements on the Banking Industry" will provide the audience on the current status of fair value in financial reporting, particularly with financial institutions. Regulators' viewpoints on measuring fair value and other audit concerns will also be discussed.

AGENDA

History of Fair Value Measurements in Financial Reporting in Banking
  • Fair Value and the Credit Crisis
  • SEC Findings
Common Accounting Standards With Fair Value as the Unit of Measurement
  • ASC 820 Fair Value Measurement
  • ASC 805 Business Combinations
  • ASC 350 Goodwill and Other Intangible Assets
  • ASC 825 Fair Value Option
Fair Value and Bank Business Combinations
  • Examples of Acquired Intangible Assets
  • Special Issues With Core Deposits
Testing Goodwill for Impairment
Fair Value of Swaps and Other Financial Instruments
    Regulators and Fair Value
    • Security and Exchange Commission Guidance
    • SEC Enforcement Actions
    • PCAOB Guidance for Auditing Fair Value
    • PCAOB Audit Deficiencies Related to Fair Value Measurements
    • Issues in Auditing Fair Value
    Fair Value Quality Initiative
    • History and Development
    • Current Status
    • Credentials for Valuation Specialists
    Future of Fair Value in Financial Reporting
    About The Presenter

    Mark L. Zyla, CPA/ABV, CFA, ASA
    • Managing director of Acuitas Inc in Atlanta, Georgia
    • Experienced practitioner with fair value measurements
    • Wrote Fair Value Measurement: Practical Guidance and Implementation 2nd ed. published by John Wiley & Sons; also co-wrote several portfolios on fair value topics published by BNA Bloomberg; wrote "Fair Value Accounting" course published by the AICPA
    • Served on several professional committees which developed best practices in fair value including the AICPA’s Accounting and Valuation Guide, Testing Goodwill for Impairment and the Appraisal Foundation’s Contributory Asset Charges monograph
    • Member of the AICPA’s FVS Executive Committee as well as the Business Valuation Committee of the American Society of Appraisers
    • Conducts a two day workshop twice a year for the AICPA on Fair Value Measurements
    • Inducted into the AICPA’s Business Valuation Hall of Fame in 2013
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    The Impact Of Fair Value On The Banking Industry
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