March 2019
Intermediate to advanced
1440 pages
51h 20m
English
Content preview from Wiley GAAP 2019
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52ASC 820 FAIR VALUE MEASUREMENTS
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 measurements in addition to those required by other topics in the Codification.
Scope.
In pursuing an incremental approach, ASC 820 contains 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
- Measurements 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 evidence1 of fair value, such as multiple-deliverable arrangements and software revenue recognition
- Inventory
- Accounting principles that address fair value measurements for purposes of lease classification or measurement. The exception does not apply to assets acquired and liabilities assumed in a business combination or an acquisition by a not-for-profit entity that are required to be measured at fair value regardless of whether those assets and liabilities are related to leases.2
- (ASC 820-10-15-2)
In addition to the scope exceptions listed above, ASC 820 retains the practicability exceptions included in GAAP that applies when, in management’s judgment, it is not practical ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.