Learn to recall and identify the related accounting standards from the FASB Accounting Standards Codification© .
Learning Objectives
- Learning Outcomes
- Recall the purpose and primary goal of the Financial Instruments Performance Framework.
- Identify the basic information required in a valuation report / work file to comply with the Financial Instruments Performance Framework.
- Differentiate the roles of financial reporting standard-setting bodies and regulatory authorities in establishing and enforcing the reporting standards related to financial instrument valuation.
- Choose and document appropriate valuation models and common inputs.
- Identify general market mechanics and features that may require more complex handling.
- Identify the significant risks associated with financial instruments included in the financial statements.
- Identify the International Accounting Standard Board's (IASB's) conceptual framework.
- Differentiate debt securities from other financial instruments.
- Identify similarities and differences between current expected credit losses (CECL) and expected credit losses (ECL).
Major Topics
FASB ASC 820, Fair Value Measurement;Fair value framework;Valuation techniques and inputs;Impairment of financial instruments;Other fair value standards
