Fair Value Measurements Workshop

Attend the Fair Value Measurements Workshop which will discuss the conceptual issues in using fair value measurements and provide examples of valuation measurements. This Workshop will provide detailed examples of measuring the fair value of individual assets, especially as prepared by a valuation specialist. The workshop will show members in business and industry as well as their outside auditing firms the information necessary to confront the challenges in making and attesting to fair value measurements.

WHO SHOULD ATTEND
Senior financial executives of both public and private companies and their accounting/finance staff, as well as CPAs and other business valuation specialists.

THURSDAY, February 11

8:00 am - 8:30 am  Registration and Continental Breakfast
8:30 am - 4:30 pm        

1 Introductions and Seminar Overview

2 OVERVIEW OF FAIR VALUE ACCOUNTING
a. The Changing Economic and Regulatory Environment
b. A Vision from the CEOs of International Audit Networks
c. The FASB and IASB Convergence Project
d. The Conceptual Framework Project
e. Current FASB Statements Requiring Fair Value Measurements

3 SFAS 157, FAIR VALUE MEASUREMENTS AND DISCLOSURES
a. History and Background
b. Definition of Fair Value
c. Highest and Best Use Application Criteria Applied to Assets
d. Application to Liabilities
e. Fair Value at Initial Recognition
f. Introduction to the Three Approaches to Value
g. Other Guidelines
h. Other Definitions-Inputs
i. Fair Value Hierarchy
j. Disclosures

4 FAIR VALUE IN NONACTIVE MARKETS

5 FAIR VALUE MEASUREMENTS IN BUSINESS COMBINATIONS (SFAS 141(R))
a. Introduction and Background
b. Accounting Overview
c. Steps in Applying Fair Value Measurements in a Business Combination

6 TESTING FOR SUBSEQUENT IMPAIRMENT OF FAIR VALUE
a. Overview of Testing for Impairment of Assets
b. When to Test
c. Nature of Goodwill
d. SFAS 144, Accounting for the Impairment or Disposal of Long-Lived Assets
e. Impact of SFAS 157, Fair Value Measurements

7 MEASURING FAIR VALUE – WORKING WITH A VALUATION SPECIALIST
a. Valuation Specialists
b. Estimating Fair Value from the Perspective of a Valuation Specialist
c. Valuation Techniques
d. Basic Approaches to Valuing any Asset or Business Interest
e. Working with a Valuation Specialist

8 CURRENT ISSUES IN FAIR VALUE ACCOUNTING
a. Impact of Fair Value Accounting
b. AsSEC Draft on Alternative Investments
c. Financial Crisis Advisory Group (FCAG)

9 FAIR VALUE MEASUREMENTS CASE STUDY

10 UPDATE OF OTHER FASB PROJECTS
a. FASB Projects Related to Fair Value Measurements
b. Invitation to Comment, Valuation Standards
c. Valuation Resource Group

FRIDAY, February 12

8:00 am - 8:30 am  Registration and Continental Breakfast
8:30 am - 4:00 pm        

1 INTRODUCTION TO FAIR VALUE MEASUREMENTS

2 FAIR VALUE MEASUREMENTS INTERACTIVE DISCUSSION – HOW DO YOU HANDLE THESE COMMON ISSUES?

3 HOW IDENTIFIABLE INTANGIBLE ASSETS CREATE VALUE IN A BUSINESS

4 THE COST APPROACH
a. Economic Basis
b. Basic Formula
c. Determining Cost to Recreate New
d. Determining Time to Recreate New
e. Determining Obsolescence
f. Additional Considerations

5 THE MARKET APPROACH
a. Relief from Royalty Method
b. Comparable Transaction Method
c. Rules of Thumb
d. Transaction of Intangible Assets of the Subject
e. Court Cases
f. Additional Information

6 THE INCOME APPROACH
a. Excess Earnings Method
b. Loss of Income Method
c. Multi-Period Excess Earnings
d. Rates of Return on Intangible Assets
e. Contributory Charges
f. Economic Life
g. Tax Effect and Amortization Benefit

7 USING OPTION PRICING METHODS FOR VALUATING INTANGIBLE ASSETS
a. Limitations of Traditional Income Approach
b. Assets that can be Valued Using Options Methodologies
c. Introduction to Using Option Methods for Intangible Assets
d. Using the Binomial Method
e. Monte Carlo Simulations

8 USEFUL LIFE ANALYSIS OF INTANGIBLE ASSETS

1. Factors that Determine Useful Lives

9 CASE STUDY – VALUATION OF INTANGIBLE ASSETS IN FINANCIAL REPORTING

4:00 pm  Workshop Adjourns

AICPA Offices
1720 Lake Pointe Drive
Suite 117
Lewisville, TX 75057-6408

Suggested hotel accommodations are forthcoming.