GAAP for State and Local Governments: Fair Value Measurement (Currently Unavailable)

Author: James F. Green, CPA

This two CPE hour course explores the governmental GAAP framework for measuring fair value, including how and when a government must adopt the new guidance of Statement 72.

Note: This course does not contain audio.

Publication Date: January 2016

Topics Covered

• Accounting

Learning Objectives

• Identify the objectives of fair value measurement
• Define fair value and other supporting terms
• Explain acquisition value and when it is used as a basis for measurement
• List three key approaches to valuation (and the related inputs)
• State the hierarchy of inputs to fair value measurements
• Summarize related disclosure objectives
• Recall when and how an entity will adopt Statement 72

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Accounting (Governmental) (2 hours)

Program Prerequisites
Basic understanding of how to measure fair value for state and local governmental entities in accordance with generally accepted accounting principles.

Advance Preparation
None