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Fair Value Measurements and Reporting for 2012
   LIVE Webcast  

 


Event Details:                                                                                                                                                          

The Knowledge Congress has assembled a panel of thought leaders to provide in-depth discussions of the latest topics on fair value measurements and reporting. In a two-hour live webcast, our speakers will offer valuable analysis and practical guidance on the significant issues in the mix including:

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 1.75 - 2.0
Advance Preparation: Print and review course materials
Course Code: 124310
Recording Fee: $299 (Please click here for details)

 

Featured Speakers for Fair Value Measurements and Reporting for 2012 LIVE Webcast :


Agenda  (click here to view more)


John Lehman, Financial Advisory Services Director,
Sirius Solutions LLLP

** Speaker Talking Points to be added soon.. **



Linda MacDonald, Senior Managing Director,
FTI Consulting

Fair value reporting continues to be the focus of attention for many entities and their Boards, auditors, and regulators.
  • Issues around the application of the fair value concepts in GAAP continue to come up in SEC investigations
    • • Some recent SEC releases
    • • Private equity funds
  • Many of the issues go back to the basics
    • • Fair value reporting largely follows the fair value concepts introduced into U.S. GAAP by FAS 157, now codified in ASC 820. The U.S. GAAP is now substantially converged with the issuance of IFRS 13.
    • • For the fair value measurements used in financial reporting, the objective is an exit price
    • • In coming up with a fair value measurement, various models and estimation techniques apply
    • • In all cases, observable inputs are important
    • • The weight given to those inputs will depend on the extent to which they are relevant to the item that is the subject of the measurement
    • • That determination will necessarily involve varying degrees of analysis and judgment, which, in some cases, is subject to second guessing
    • • Consistency in valuation methodology is important; however, changes are appropriate if they result from better or new information and are not the result of an “error”
  • Initiatives to address application issues
    • • FASB emphasis on fair value disclosures, with special consideration being given to nonpublic entities
    • • PCAOB emphasis on the use of third party pricing sources and the auditor’s procedures when auditing fair value measurements developed using third party pricing sources
    • • SEC emphasis on disclosures about fair value measurements using third party pricing sources
    • • SEC concerns about the lack of structure within the valuation profession
    • • SEC Financial Reporting Series, with inaugural program focused on uncertainty in fair value (and other) accounting measurements
  • Steps to avoid (or mitigate) the issues going forward
    • • Evaluate internal controls
    • • Develop, update, and communicate policies and procedures


Christopher W. Mears, CPA, Principal-in-Charge,
Rothstein Kass

  • • The new disclosure requirement includes a description of the valuation process for level 3 investments.
  • • A Tabular disclosure of the quantitative disclosures of significant unobservable inputs for level 3 measurements will be required for year end financial statements
  • • The PCAOB established a Pricing Sources Task Force to gain insight into current issues to related to the auditing the fair value of financial instruments.
  • • The valuation process: what typically goes wrong during an audit of the fair value of financial instruments.


Raymund Wong, Senior Consultant,
NERA Economic Consulting

  • • The continuing evolution of fair value reporting has highlighted longstanding challenges of reconciling current fair values of assets with the historical cost emphasis of double-entry bookkeeping.
  • • Complexities related to modern public companies’ requirements to simultaneously report holdings of marketable securities, acquired entities, and core operations can distort the interpretation of a company’s financial position by investors, regulators, and other market participants, particularly during periods of market turmoil.
  • • In a world of increasingly complex financial instruments and requirements for greater detail and transparency in financial reporting, dynamic interpretation of financial reporting and valuation results is critical, facilitated by cross-discipline expertise.




David McKnight, Consultant,
NERA Economic Consulting

Determining the “fair value” of financial instruments at a particular point in time is often an important issue in litigation and commercial disputes. When markets are efficient the price at which parties transact is the presumptive “fair value” of the security; however, in the absence of efficient markets or reliable pricing data other valuation methods must be used. This presentation will discuss:
  • • Instances when market prices may not be reliable and tests for market efficiency;
  • • The most important factors that influence the value of a financial instrument; and
  • • Some common models that can be used to determine “fair value” in the absence of market prices.




Sirius Solutions LLLP
John Lehman
Financial Advisory Services Director
speaker bio »»

FTI Consulting
Linda MacDonald
Senior Managing Director
speaker bio »»

Rothstein Kass
Christopher W. Mears, CPA
Principal-in-Charge
speaker bio »»

NERA Economic Consulting
Raymund Wong
Senior Consultant
speaker bio »»

NERA Economic Consulting
David McKnight
Consultant
speaker bio »»



Who Should Attend?

- Controllers
- Business Officers
- CFOs
- Treasurers
- CPAs
- CFAs
- Auditors
- Financial Directors/Analysts
- Valuation Analysts
- Other Related Professionals

Why Attend?

This is must attend event for finance executives, auditors, valuation specialist and other interested professionals who are interested in learning the up-to-date issues related to fair value measurement and reporting.

- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Enroll in this course today by clicking the Register button below. Hurry as space is limited and deep discounts apply for early registrants.

Registration Information:                                                                                                                                    


Disclaimer:
Please note, the event date is firm although it may be subject to change. Please click here for details.
The Knowledge Group, LLC is producing this event for information purposes only. We do not intend to provide or offer business advice. The contents of this event are based upon the opinions of our speakers. The Knowledge Congress does not warrant their accuracy and completeness. The statements made by them are based on their independent opinions and does not necessarily reflect that of The Knowledge Congress' views. In no event shall The Knowledge Congress be liable to any person or business entity for any special, direct, indirect, punitive, incidental or consequential damages as a result of any information gathered from this webcast.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Fair Value Measurements and Reporting for 2012
LIVE Webcast
Event Sponsors / Speaker Firms:




Sirius Solutions, L.L.L.P. is an independent business consulting firm specializing in the areas of Financial Advisory, Business Operations, Compliance & Controls, Legal & Economic Advisory and Technology. Our mission is to integrate commercial business experience and deep subject matter expertise for senior management, providing sustainable solutions to complex business challenges. With a base of professionals averaging more than 15 years experience, we serve clients in over forty countries across a wide range of major industries, including construction, energy, financial services, health care, manufacturing and transportation. Our clients experience results such as a shortened financial close process, higher levels of regulatory compliance, and operational best practices. Sirius Solutions is headquartered in Houston, Texas and has offices in London, New York and Dallas. Sirius Solutions is not a CPA firm. www.sirsol.com.




FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 3,800 employees located in 24 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The company generated $1.56 billion in revenues during fiscal year 2011. More information can be found at www.fticonsulting.com.







NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For half a century, NERA’s economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation.

NERA’s clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world’s largest economic consultancies. With its main office in New York City, NERA serves clients from more than 20 offices across North America, Europe, and Asia Pacific.




 

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