October 2013
Intermediate to advanced
1460 pages
56h 14m
English
book
Wiley GAAP 2014: Interpretation and Application of Generally Accepted Accounting Principles
by Joanne M. Flood
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49 ASC 820 FAIR VALUE MEASUREMENTS
The Debate over the Use of Fair Value Measurements
ASC 820, Fair Value Measurement
Measurement Principles and Methodologies
Item identification and unit of account
Principal or most advantageous market and market participants
Selection of the valuation premise for asset measurements
Risk assumptions when valuing a liability
PERSPECTIVE AND ISSUES
Subtopic
ASC 820 contains one subtopic:
- ASC 820-10, Overall, which defines fair value, describes a framework for measuring fair value and details required disclosures.
Scope and Scope Exceptions
ASC 820 does not require fair value measurement in addition to those required by other Topics in the Codification.
Scope. In pursuing an incremental approach, ASC 820 contained scope exceptions for certain, highly-complex specialized applications. It does not apply to:
- Share-based payments transactions, except for transaction covered in ASC 718-40 which are within the scope of ASC 820
- Measurement that are similar to fair value but that are not intended to measure fair value, including:
- Measurements models that are based on vendor-specific objective evidence of fair value, such as multiple-deliverable arrangements ...
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