Learn to recall and identify the related accounting standards from the FASB Accounting Standards Codification© .
Learning Objectives
Recall the definition of key terms used in FASB ASC 820, Fair Value Measurement;Recall the scope and required disclosures in FASB ASC 820.;Recognize how to classify financial instruments by level within the fair value hierarchy and by type of instrument.;Identify considerations related to initial recognition, subsequent measurement, and impairment.;Recall the basic concepts included in other fair value standards (FASB ASC 718, Compensation–Stock Compensation, FASB ASC 815, Derivatives and Hedging, and FASB ASC 825, Financial Instruments).;Identify differences between GAAP and IFRS.
Major Topics
FASB ASC 820, Fair Value Measurement;Fair value framework;Valuation techniques and inputs;Impairment of financial instruments;Other fair value standards
