Fair value for financial reporting: meeting the new FASB requirements
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Hoboken, NJ
Wiley
2006
|
| Subjects: | |
| Online Access: | Table of contents Inhaltsverzeichnis |
| Item Description: | Includes index. |
| Physical Description: | XVIII, 334 S. |
| ISBN: | 0471771848 9780471771845 |
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MARC
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| adam_text | PREFACE Kill
CHAPTER 1
Impact of Fair Value on Earnings Per Shape 1
Fundamentals of SFAS 141R 2
Developing Fair Value in a Business Combination 3
How an Appraiser Looks at Intangibles 10
Intended Use of Intangible Assets: Market Participants 18
Estimated Life of Assets 20
Impact on Earnings Per Share of Fair Value Calculations 24
Conclusion 27
CHAPTER 2
What Is Fair Value? 2S
Purpose of an Appraisal 30
Three Different Values Do Not Disprove Appraiser Integrity 32
Why Two Appraisers Provide Different Results 35
Importance of Assumptions 36
Evaluating an Appraisal Report 38
Accuracy of Appraisal Reports 42
Conclusion 45
CHAPTER 3
Wiiat Is Fair Value Reporting? 47
FASB Leads the Way 48
Balance Sheet versus Income Statement 48
Changes in Balance Sheets Measure Income 51
Unrealized Gains Can Be Manipulated to Create Income 53
Should We Have Fair Value? 55
Volatility 57
yjjj CONTENTS
Concepts Statement 7 59
FASB s Fair Value Proposals 66
Conclusion 69
CHAPTER 4
How Appraisers Develop Fair Value 71
Basic Valuation Principles 72
Use of the Three Approaches 73
Correlating the Answer 75
Value In Use versus Value In Exchange 16
What Is Value Jn Use? 77
What Is Value Tn F xchange? 79
FASB s Dilemma 81
Can Fair Value Be Audited? 82
Market Participants 85
Income Taxes and Subchapters Considerations in Valuation 88
Selecting an Appraiser 90
Conclusion 93
CHAPTER 5
Allocation of Purchase Price (SFASs 141R and 142) 97
Is the Purchase Price Equal to Fair Value? 98
Testing Fair Value 100
Weighted Average Cost of Capital 102
Synergies 106
Comparing SFAS 141R with Its Predecessor, SFAS 141 107
Transaction Costs 108
Contingent Consideration 109
Fair Value of Equity Securities Issued 111
Contingent Assets and Liabilities 111
Restructuring Costs 113
Identifying Specific Intangible Assets 11.5
Unpatented Technology 118
Backlog 119
Assembled Workforce 119
Bargain Purchases 123
Partial Acquisitions and Noncontrolling Interests 124
Conclusion 127
Contents jX
CHAPTER 6
Determining the Fair Value of intangible Assets 123
Trademarks, Trade Names 129
Internet Domain Names 136
Noncompetition Agreements 138
Customer Lists and Customer Relationships 141
Customer Relationships 143
Franchise Agreements 150
Operating and Broadcast Rights 153
Patented and Unpatented Technology 154
Software 155
Software Developed for Sale to Others 159
Conclusion 160
CHAPTER 7
Valuation of Liabilities and Contingent Payments 163
FASB s New Approach to Liabilities: Expected Value 165
Estimating and Valuing Legal Liabilities 170
Valuing Environmental Liabilities 176
Valuation of Contingent Purchase Price 179
Conclusion 183
CHAPTER 8
Testing for Impairment 185
Testing Goodwill for Impairment 185
Valuing Reporting Units 187
Phase 2: Implied Goodwill 190
Testing Identifiable Intangibles with an Indefinite Life 195
Testing Identifiable Intangibles with a Definite Life 197
Impairment of Property, PJant, and Equipment 204
Conclusion 205
CHAPTER S
Valuation of Hard Assets and Real Estate 207
Highest and Best Use 208
Value In Use versus Value In Exchange 210
Physical Inspection and the Condition of Assets 211
Accounting Depreciation versus Appraisal Depreciation 214
X CONTENTS
Negative Goodwill 222
Hierarchy of Earnings 227
Assets Held for Sale 230
What to Do About Undervalued Assets 231
Sarbanes Oxley Required Controls on PP E 234
Size of the PP E Problem 235
Controlling PP E 235
A Perfect Solution 237
A Workable Solution 238
Minimum Capitalization Amounts Should Be Raised 240
Conclusion 241
CHAPTER 10
In Process Research and Development 243
Cost versus Value 244
Development of In Process Research and Development 245
Valuation of IPR D 247
Conclusion 261
CHAPTER 11
Valuation of Inventories and Receivables 263
True Cost of Inventory 265
LIFO: Half of Fair Value 268
Net Realizable Value 270
Selling Expenses 271
What Is a Reasonable Profit ? 272
Work in Process and Raw Alaterials 273
Inventory Obsolescence 274
Summary of Fair Value of Inventories 276
Valuation of Receivables 277
Summary of Fair Value of Receivables 280
Conclusion 281
CHAPTER 12
Valuing Stock Options 2S3
Valuation of Options Under SFAS 123R 285
Seven Variables of Option Valuation 287
Valuation Methodology for Stock Options 292
Contents : _ XI
Developing Supportable Assumptions for the Valuation 294
Conclusion 300
CHAPTER 13
Auditing of Valuation Reports and Selecting an Appraiser 303
Be Careful What You Ask For! 306
Auditor Review of Valuation Reports 310
Every Appraisal Has at Least One Key Assumption 313
How to Choose an Appraiser 316
Obtaining and Evaluating Proposals for Valuation 317
Conclusion 322
INDEX 323
|
| adam_txt |
PREFACE Kill
CHAPTER 1
Impact of Fair Value on Earnings Per Shape 1
Fundamentals of SFAS 141R 2
Developing Fair Value in a Business Combination 3
How an Appraiser Looks at Intangibles 10
Intended Use of Intangible Assets: "Market Participants" 18
Estimated Life of Assets 20
Impact on Earnings Per Share of Fair Value Calculations 24
Conclusion 27
CHAPTER 2
What Is Fair Value? 2S
Purpose of an Appraisal 30
Three Different Values Do Not Disprove Appraiser Integrity 32
Why Two Appraisers Provide Different Results 35
Importance of Assumptions 36
Evaluating an Appraisal Report 38
Accuracy of Appraisal Reports 42
Conclusion 45
CHAPTER 3
Wiiat Is Fair Value Reporting? 47
FASB Leads the Way 48
Balance Sheet versus Income Statement 48
Changes in Balance Sheets Measure Income 51
Unrealized Gains Can Be Manipulated to Create Income 53
Should We Have Fair Value? 55
Volatility 57
yjjj CONTENTS
Concepts Statement 7 59
FASB's Fair Value Proposals 66
Conclusion 69
CHAPTER 4
How Appraisers Develop Fair Value 71
Basic Valuation Principles 72
Use of the Three Approaches 73
Correlating the Answer 75
Value In Use versus Value In Exchange 16
What Is Value Jn Use? ' 77
What Is Value Tn F xchange? 79
FASB's Dilemma 81
Can Fair Value Be Audited? 82
Market Participants 85
Income Taxes and Subchapters Considerations in Valuation 88
Selecting an Appraiser 90
Conclusion 93
CHAPTER 5
Allocation of Purchase Price (SFASs 141R and 142) 97
Is the Purchase Price Equal to Fair Value? 98
Testing Fair Value 100
Weighted Average Cost of Capital 102
Synergies 106
Comparing SFAS 141R with Its Predecessor, SFAS 141 107
Transaction Costs 108
Contingent Consideration 109
Fair Value of Equity Securities Issued 111
Contingent Assets and Liabilities 111
Restructuring Costs 113
Identifying Specific Intangible Assets 11.5
Unpatented Technology 118
Backlog 119
Assembled Workforce 119
Bargain Purchases 123
Partial Acquisitions and Noncontrolling Interests 124
Conclusion 127
Contents jX
CHAPTER 6
Determining the Fair Value of intangible Assets 123
Trademarks, Trade Names 129
Internet Domain Names 136
Noncompetition Agreements 138
Customer Lists and Customer Relationships 141
Customer Relationships 143
Franchise Agreements 150
Operating and Broadcast Rights 153
Patented and Unpatented Technology 154
Software 155
Software Developed for Sale to Others 159
Conclusion 160
CHAPTER 7
Valuation of Liabilities and Contingent Payments 163
FASB's New Approach to Liabilities: "Expected Value" 165
Estimating and Valuing Legal Liabilities 170
Valuing Environmental Liabilities 176
Valuation of Contingent Purchase Price 179
Conclusion 183
CHAPTER 8
Testing for Impairment 185
Testing Goodwill for Impairment 185
Valuing Reporting Units 187
Phase 2: Implied Goodwill 190
Testing Identifiable Intangibles with an Indefinite Life 195
Testing Identifiable Intangibles with a Definite Life 197
Impairment of Property, PJant, and Equipment 204
Conclusion 205
CHAPTER S
Valuation of Hard Assets and Real Estate 207
Highest and Best Use 208
Value In Use versus Value In Exchange 210
Physical Inspection and the Condition of Assets 211
Accounting Depreciation versus Appraisal Depreciation 214
X CONTENTS
Negative Goodwill 222
Hierarchy of Earnings 227
Assets Held for Sale 230
What to Do About Undervalued Assets 231
Sarbanes Oxley Required Controls on PP E 234
Size of the PP E Problem 235
Controlling PP E 235
A Perfect Solution 237
A Workable Solution 238
Minimum Capitalization Amounts Should Be Raised 240
Conclusion 241
CHAPTER 10
In Process Research and Development 243
Cost versus Value 244
Development of In Process Research and Development 245
Valuation of IPR D 247
Conclusion 261
CHAPTER 11
Valuation of Inventories and Receivables 263
True Cost of Inventory 265
LIFO: Half of Fair Value 268
Net Realizable Value 270
Selling Expenses 271
What Is a "Reasonable Profit"? 272
Work in Process and Raw Alaterials 273
Inventory Obsolescence 274
Summary of Fair Value of Inventories 276
Valuation of Receivables 277
Summary of Fair Value of Receivables 280
Conclusion 281
CHAPTER 12
Valuing Stock Options 2S3
Valuation of Options Under SFAS 123R 285
Seven Variables of Option Valuation 287
Valuation Methodology for Stock Options 292
Contents : _ XI
Developing Supportable Assumptions for the Valuation 294
Conclusion 300
CHAPTER 13
Auditing of Valuation Reports and Selecting an Appraiser 303
Be Careful What You Ask For! 306
Auditor Review of Valuation Reports 310
Every Appraisal Has at Least One Key Assumption 313
How to Choose an Appraiser 316
Obtaining and Evaluating Proposals for Valuation 317
Conclusion 322
INDEX 323 |
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| spelling | King, Alfred M. Verfasser aut Fair value for financial reporting meeting the new FASB requirements Alfred M. King Hoboken, NJ Wiley 2006 XVIII, 334 S. txt rdacontent n rdamedia nc rdacarrier Includes index. Financial Accounting Standards Board Financiële verslaglegging gtt Standaardisatie gtt Financial statements Fair value Accounting Bilanz (DE-588)4006566-2 gnd rswk-swf Bewertung (DE-588)4006340-9 gnd rswk-swf Bilanz (DE-588)4006566-2 s Bewertung (DE-588)4006340-9 s DE-604 http://www.loc.gov/catdir/toc/ecip063/2005032777.html Table of contents HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014754591&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | King, Alfred M. Fair value for financial reporting meeting the new FASB requirements Financial Accounting Standards Board Financiële verslaglegging gtt Standaardisatie gtt Financial statements Fair value Accounting Bilanz (DE-588)4006566-2 gnd Bewertung (DE-588)4006340-9 gnd |
| subject_GND | (DE-588)4006566-2 (DE-588)4006340-9 |
| title | Fair value for financial reporting meeting the new FASB requirements |
| title_auth | Fair value for financial reporting meeting the new FASB requirements |
| title_exact_search | Fair value for financial reporting meeting the new FASB requirements |
| title_exact_search_txtP | Fair value for financial reporting meeting the new FASB requirements |
| title_full | Fair value for financial reporting meeting the new FASB requirements Alfred M. King |
| title_fullStr | Fair value for financial reporting meeting the new FASB requirements Alfred M. King |
| title_full_unstemmed | Fair value for financial reporting meeting the new FASB requirements Alfred M. King |
| title_short | Fair value for financial reporting |
| title_sort | fair value for financial reporting meeting the new fasb requirements |
| title_sub | meeting the new FASB requirements |
| topic | Financial Accounting Standards Board Financiële verslaglegging gtt Standaardisatie gtt Financial statements Fair value Accounting Bilanz (DE-588)4006566-2 gnd Bewertung (DE-588)4006340-9 gnd |
| topic_facet | Financial Accounting Standards Board Financiële verslaglegging Standaardisatie Financial statements Fair value Accounting Bilanz Bewertung |
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